Tectonic Therapeutic (TECX) announced that it has entered into a securities purchase agreement for a private investment in public equity

WATERTOWN, Mass. - Tectonic Therapeutic, Inc. (NASDAQ: TECX), a biotechnology company specializing in the development of therapeutic proteins and antibodies, announced today that it has entered into a securities purchase agreement expected to yield approximately $185 million.

Tectonic Therapeutic (NASDAQ:TECX) has announced a ~$185M capital raise to fund the clinical development of its drug candidates. Pursuant to the terms of the securities purchase agreement, at the closing of the private investment in public equity financing,

Pursuant to the terms of the securities purchase agreement, at the closing of the PIPE, Tectonic will issue an aggregate of 3,689,465 shares of common stock at a price of $50.00 per share to fund investors and $54.14 per share to individual investors that are either an officer or director of Tectonic.