Gritstone bio, Inc. announced a private placement of 6,637,165 common shares at a price of $2.26 per common share for gross proceeds of $14,999,992.9, 13,274,923 pre-funded warrants at a price of $2.2599 per pre-funded warrant for gross proceeds of $29,999,998.487; for aggregate gross proceeds of $44,999,991.387 on October 25, 2022. The transaction will include participation from returning lead investor Redmile Group, LLC, returning investor Gilead Sciences, Inc., The Invus Group, LLC, Hercules Capital, Inc. and two new large institutional investors. The company issued pre-funded warrants to purchase up to 13,274,923 common shares.

Each pre-funded warrant will have an exercise price of $0.0001 per share, will be exercisable immediately, and will be exercisable until exercised in full. The transaction is expected to close on October 27, 2022, subject to customary closing conditions.