Brief: Aeglea BioTherapeutics Announces Acquisition Of Spyre Therapeutics

Spyre Therapeutics

22/06/2023 13:38

June 22 (Reuters) - Aeglea Bio Therapeutics Inc
 AGLE.O :
    * AEGLEA BIOTHERAPEUTICS ANNOUNCES ACQUISITION OF SPYRE
THERAPEUTICS
    * AEGLEA BIO THERAPEUTICS - COMBINED CO EXPECTED TO HAVE
ABOUT
$220 MILLION IN CASH OR CASH EQUIVALENTS AT CLOSE: EXPECTED TO
FUND OPERATIONS INTO 2026
    * AEGLEA BIO THERAPEUTICS INC - ACQUISITION OF SPYRE WAS
STRUCTURED AS A STOCK-FOR-STOCK TRANSACTION
    * AEGLEA BIO THERAPEUTICS INC - PROPOSED DEAL INCLUDES FIXED
EXCHANGE RATIO FOR CONSIDERATION OF 13.0 MILLION SHARES OF
AEGLEA COMMON STOCK
    * AEGLEA BIO THERAPEUTICS - ENTERED INTO A DEFINITIVE
AGREEMENT
FOR A PIPE INVESTMENT WITH EXISTING AND NEW INVESTORS TO RAISE
$210 MILLION
    * AEGLEA- PROPOSED DEAL ALSO INCLUDES ON A FIXED EXCHANGE
RATIO
364,889 SHARES OF SERIES A PREFERRED AEGLEA STOCK ON AN
AS-CONVERTED-TO-COMMON BASIS

Source text for Eikon:  ID:nPn4rcPFxa 
Further company coverage:  AGLE.O 

 (Reuters.Briefs@thomsonreuters.com)