Unicycive Therapeutics, Inc. announced that it has signed an agreement issue 130,000 series A convertible preferred shares at an issue price of $1,000 per share for gross proceeds of up to $130 million on March 3, 2023.

On the same date, the company issued 30,000 shares for gross proceeds of $30 million in its first tranche led by new investor, Vivo Capital, LLC with participation from new investors, RA Capital Management, L.P., BVF Partners L.P., Logos Global Management, L.P., returning investors , Nantahala Capital Management, LLC and Rosalind Advisors, Inc. As a part of transaction, Gaurav Aggarwal will join the board of directors of the company. The company will further issue three tranches of warrants that are exercisable for convertible preferred stock as follows: (1) tranche A warrants for an aggregate exercise price of approximately $25 million are exercisable until 21 days following the company's announcement of receipt of FDA approval for Renazorb, (2) tranche B warrants for an aggregate exercise price of approximately $25 million are exercisable until 21 days following the company's announcement of receipt of TDAPA approval for Renazorb; and (3) tranche C warrants for an aggregate exercise price of approximately $50 million are exercisable until 21 days following public disclosure of four quarters of commercial sales of Renazorb following receipt of TDAPA approval. The company will issue securities pursuant to exemption provided under Regulation D.