Mergers & Acquisitions ·
Alaunos Therapeutics raises $350M in financing and completes Velaris acquisition to regain Nasdaq listing compliance
TCRTAlaunos Therapeutics, Inc.
Alaunos Therapeutics completed its merger with Velaris Therapeutics and closed a private placement raising approximately $350 million in gross proceeds. The transaction involved issuing 687,789 shares of common stock at $1.4357 per share and 243,063 shares of Series C Preferred Stock at $1,435.70 per share. An affiliate of Fairmount Healthcare Fund II waived a cash settlement right on approximately $9 million of preferred shares to support equity classification. The financing enabled the company to regain compliance with Nasdaq’s $2.5 million stockholders’ equity requirement, potentially avoiding delisting pending regulatory confirmation. Alaunos Therapeutics operates in the biotechnology industry, focusing on developing therapies for rare diseases.