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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