Graphite Bio Completes Merger with LENZ Therapeutics; Combined Company to Trade as LENZ

March 21, 2024

LENZ Therapeutics completed its previously announced merger with Graphite Bio and will commence trading on Nasdaq under the ticker LENZ. The transaction included a 1-for-7 reverse stock split, a special cash dividend, and a concurrent $53.5 million PIPE from a syndicate of healthcare investors, leaving the combined company with approximately $210 million in cash to support late-stage CLARITY Phase 3 readouts and planned NDA submission in mid-2024.

Buyers
Graphite Bio, Inc., Versant Ventures, RA Capital Management, Alpha Wave Global, Point72, Samsara BioCapital, Sectoral Asset Management, RTW Investments
Targets
LENZ Therapeutics, Inc.
Sellers
Pre-merger Graphite Bio stockholders, Pre-merger LENZ stockholders
Industry
Biotechnology
Location
California, United States
Transaction Type
Recapitalization

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