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Coya Therapeutics (COYA) Announces $26.5 Million Private Placement

December 6, 2023 7:06 AM EST

Coya Therapeutics, Inc. (Nasdaq: COYA) (“Coya” or the “Company”), a clinical-stage biotechnology company developing biologics and cell therapies intended to enhance the function of regulatory T cells (“Tregs”), announced today that it has entered into definitive securities purchase agreements for the purchase and sale of an aggregate of 4,370,382 shares of its common stock at a purchase price of $6.06 per share of common stock, in a private placement priced at-the-market under Nasdaq rules. The offering is expected to close on or about December 11, 2023, subject to the satisfaction of customary closing conditions.

The financing included participation by former U.S. Secretary of Commerce Wilbur Ross and other existing institutional investors. Secretary Ross is expected to join the Board of Directors of Coya after the closing of the private placement.

BTIG, LLC is acting as the lead placement agent and Newbridge Securities Corp. is acting as co-placement agent for the offering. Allele Capital Partners, LLC, through its executing broker-dealer, Wilmington Capital Securities, LLC, and Chardan Capital Markets LLC are acting as financial advisors to the Company.

The gross proceeds to the Company from the private placement are expected to be approximately $26.5 million, before deducting the placement agents’ fees and other offering expenses payable by the Company. The Company intends to use the net proceeds for general corporate purposes, including general and administrative expenses, working capital and to support preclinical, clinical and regulatory activities related to the Company’s existing and future product candidate pipeline.

The offer and sale of the securities described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and/or Regulation D promulgated thereunder and have not been registered under the Act, or applicable state securities laws. Accordingly, the securities issued in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

The Company has agreed to file a registration statement with the Securities and Exchange Commission (“SEC”) covering the resale of the securities to be issued in the offering no later than 30 days following the date of the definitive agreements and to have the registration statement declared effective no later than 75 days following the date of the definitive agreements in the event of a “full review” by the SEC.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.



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