Aura Biosciences prices $260 million public offering at $6.00 per share

Aura Biosciences Inc. (NASDAQ: AURA) announced the pricing of an underwritten public offering consisting of 39,591,000 shares of common stock and pre-funded warrants to purchase up to 3,800,000 shares. The offering price is $6.00 per share of common stock and $5.99999 per pre-funded warrant, which has an exercise price of $0.00001.

The company granted underwriters a 30-day option to purchase up to an additional 6,508,650 shares under the same terms. Gross proceeds are expected to reach $260.3 million before deducting underwriting discounts, commissions and other expenses. The offering is expected to close on or about May 5, 2026.

Aura intends to use $205.1 million of net proceeds, combined with existing cash and securities, to advance clinical programs including early choroidal melanoma and registration-enabling activities for bel-sar. The company plans to use remaining net proceeds to repurchase up to 6,922,870 shares from Matrix Capital Management Master Fund LP at $5.64 per share, representing all of Matrix's holdings in Aura.

Leerink Partners, TD Cowen and Evercore ISI serve as joint bookrunning managers for the offering. LifeSci Capital acts as a bookrunning manager, while Citizens Capital Markets serves as co-manager.

The clinical-stage biotechnology company develops precision therapies for solid tumors designed to preserve organ function. Its lead candidate, bel-sar, is in late-stage development for early choroidal melanoma and early-stage development for other ocular oncology indications and bladder cancer.

The offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission on March 27, 2024, which became effective April 5, 2024.

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