Savara Announces $80 Million Underwritten Offering

San Francisco – July 17, 2023 – Cooley advised the underwriters on Savara’s $80 million underwritten offering. Partners Denny Won, Dave Peinsipp, Kristin VanderPas and Charlie Kim led the Cooley team advising the underwriters.

Savara, a clinical-stage biopharmaceutical company focusing on rare respiratory diseases, announced on July 13, 2023, the pricing of an underwritten offering of 21,000,000 shares of its common stock at a price of $3 per share – and, in lieu of common stock to certain investors, 5,666,667 pre-funded warrants to purchase common stock at a price of $2.999 per pre-funded warrant with each pre-funded warrant having an exercise price of $0.001, in each case before deducting underwriting discounts and commissions – for total gross proceeds of approximately $80 million. The offering included new investors TCGX, Frazier Life Sciences and Janus Henderson Investors, along with existing investors Bain Capital Life Sciences, New Enterprise Associates, Adage Capital Partners and Venrock Healthcare Capital Partners.

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