Aileron Therapeutics, Inc. announced that it has entered into a share purchase agreement to issue 4,707 shares of series X convertible preferred stock and warrants for the total gross proceeds of $16.4 million on October 31, 2023. Each share of series X preferred stock is convertible into 1,000 shares of common stock and the warrants The exercise price of the warrants is $4.89 per share to purchase up to an aggregate of 2,353,500 shares of common stock. The transaction will include participation from new investors, Nantahala Capital Management, LLC, Bios Clinical Opportunities Fund, LP and other investors.

The transaction is expected to close on November 2, 2023.