Clasp Therapeutics announced that it expects to receive $152.960122 million in funding from a group of investors

Clasp Therapeutics announced that it will issue 120,000,000 series A-1 preferred shares at a price of $1 per share, and 41,200,152 series A-2 preferred shares at a price of $0.8 per share for gross proceeds of $152,960,121.60 in the transaction. The shares are convertible and non-cumulative. The shares carry a non-cumulative dividend rate of 6% per annum respectively.

The preferred shares will be convertible into common shares at a fixed price of their respective original issue price. The preferred shares have a par value of $0.0001 per share. The company will receive $150,000,000 in a round of funding led by new investors, Catalio Capital Management, LP, Novo Holdings A/S and Third Rock Ventures, LLC on March 20, 2024.

The transaction will include participation from new investors, Vivo Capital, LLC, Alexandria Real Estate Equities, Inc., Pictet & Cie Group SCA, Cure Ventures, BrightEdge LLC and Blackbird BioVentures. As part of the financing, Ray Camahort of Novo Holdings A/S and Jack Nielsen of Vivo Capital, LLC will join the board of directors.