Savara Prices of $100.0 Million Underwritten Offering of Common Stock

LANGHORNE, Pa.–(BUSINESS WIRE)–Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced the pricing of an underwritten offering of 26,246,720 shares of its common stock at a price of $3.81 per share before deducting underwriting discounts and commissions, for total gross proceeds of approximately $100.0 million. All of the securities to be sold in the offering are being sold by Savara. The offering included the following investors: Bain Capital Life Sciences, Farallon Capital Management, Frazier Life Sciences, Wellington Management, Nantahala Capital, TCGX and First Light Asset Management, among others. The offering is expected to close on July 1, 2024, subject to the satisfaction of customary closing conditions.

Jefferies, Piper Sandler, and Guggenheim Securities are acting as joint book-running managers for the offering. Oppenheimer & Co. is acting as the lead manager for the offering.

This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of Savara, and shall not constitute an offer, solicitation, or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Savara

Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Savara’s lead program, molgramostim nebulizer solution, is an inhaled granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (aPAP). Molgramostim is delivered via an investigational eFlow® Nebulizer System (PARI Pharma GmbH) specifically developed for inhalation of a large molecule. Savara’s management team has significant experience in rare respiratory diseases and pulmonary medicine, identifying unmet needs, and effectively advancing product candidates to approval and commercialization.