Spyre Therapeutics, Inc. entered into a securities purchase agreement with certain institutional and accredited investors for issuance of 121,625 Series B Non-Voting Convertible Preferred Stock at a price per share of $1,480 for gross proceeds of $180,005,000 on March 18, 2024. Each preferred share is convertible into 40 shares. The securities to be issued and sold to the purchasers under the purchase agreement will not be registered under the Securities Act of 1933, as amended in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated thereunder, or under any state securities laws.

The closing of the private placement is expected to occur on March 20, 2024.