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Sidley Austin says it represented Bolt in its Prana acquisition and $120 million financing
Sidley Austin said it represented Bolt Biotherapeutics in its acquisition of Prana Therapies and a concurrent private placement providing $120 million in upfront gross proceeds. The firm said the acquisition would advance Prana’s pipeline of antibody therapies for inflammatory diseases, including asthma, chronic obstructive pulmonary disease and atopic dermatitis.
Key points
- Sidley Austin said the acquisition was a sign-and-close, stock-for-stock reverse merger.Sidley Austin
- The firm said the financing involved Series D non-voting convertible preferred stock.Sidley Austin
- Sidley Austin said accompanying warrants could provide up to another $60 million.Sidley Austin
- The firm said Frank Rahmani, Nick DeAngelis and Asher Rubin led its team.Sidley Austin