CAMBRIDGE, Mass.–(BUSINESS WIRE)–Seres Therapeutics, Inc. (Nasdaq: MCRB), a leading microbiome therapeutics company, today announced that it has entered into securities purchase agreements with new and existing investors and certain directors and officers in a registered direct offering of 31,746,030 shares of common stock (the “Shares”) at a purchase price of $3.15 per share, resulting in gross proceeds of approximately $100 million, before deducting placement agent’s fees and other estimated offering expenses. The offering included participation by Federated Hermes Kaufmann Funds, Flagship Pioneering, Heights Capital Management, Inc., Janus Henderson Investors, and Nestlé Health Science, as well as other new and existing investors.
The offering is expected to close on July 5, 2022, subject to customary closing conditions.
J.P. Morgan Securities LLC is acting as the exclusive placement agent for the offering.
Seres intends to use the net proceeds from the offering for commercial readiness and manufacture of SER-109 for the U.S. market, including expanding longer-term commercial manufacturing capacity; advancing the clinical development of SER-109 for the EU market; and other general corporate and working capital purposes.
