S-1/A: Spyre Therapeutics Files Amendment for Resale of 12 Million Shares
S-1/A Filing
Spyre Therapeutics is filing an amendment to its registration statement for the resale of up to 12 million shares of its common stock by selling stockholders.
Summary
- Spyre Therapeutics has filed an amendment to its registration statement for the potential resale of up to 12,000,000 shares of its common stock by selling stockholders.
- The shares consist of 6,000,000 common shares and 6,000,000 shares issuable upon conversion of Series B preferred stock.
- These shares were previously issued in a private placement (December 2023 PIPE) which closed on December 11, 2023.
- The selling stockholders may sell these shares through various methods, including on exchanges, over-the-counter, or in privately negotiated transactions.
- Spyre Therapeutics will not receive any proceeds from the sale of these shares.
- The company's common stock is traded on The Nasdaq Global Select Market under the symbol SYRE, with a last reported sale price of $38.48 per share on March 25, 2024.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, presenting factual information without expressing strong positive or negative sentiment.
Risks
- The document mentions that an investment in the company's securities involves a high degree of risk, advising careful consideration of the Risk Factors.
- The selling stockholders may sell any, all or none of the securities offered by this prospectus and we do not know when or in what amount the Selling Stockholders may sell their Resale Shares hereunder following the effective date of the registration statement of which this prospectus forms a part.
Future Outlook
The selling stockholders may sell any, all or none of the securities offered by this prospectus and we do not know when or in what amount the Selling Stockholders may sell their Resale Shares hereunder following the effective date of the registration statement of which this prospectus forms a part.
Stakeholder Impact
- The resale of shares by selling stockholders could potentially impact the share price, affecting current shareholders.
Next Steps
- The selling stockholders may sell the Resale Shares on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale, on the over-the-counter market, in one or more transactions otherwise than on these exchanges or systems, such as privately negotiated transactions, or using a combination of these methods, and at fixed prices, at prevailing market prices at the time of the sale, at varying prices determined at the time of sale, or at negotiated prices.
Key Dates
| Date | Description |
|---|---|
| 2015-03-10 | Conversion from a Delaware LLC to a Delaware corporation |
| 2019-04-30 | Date |
| 2023-06-22 | Completion of the acquisition of Pre-Merger Spyre |
| 2023-07-03 | Record date for CVR distribution to Spyre stockholders |
| 2023-07-07 | Common Stock and the Series A Preferred Stock related to the Asset Acquisition were issued to Pre-Merger Spyre stockholders |
| 2023-07-12 | Exercise of Option with respect to the SPY001 program |
| 2023-07-27 | Agreement to sell global rights to pegzilarginase to Immedica Pharma AB |
| 2023-09-08 | Reverse stock split of Common Stock at a ratio of 1-for-25 |
| 2023-11-28 | Name change from Aeglea Biotherapeutics, Inc. to Spyre Therapeutics, Inc. |
| 2023-12-11 | Closing of the December 2023 PIPE |
| 2024-03-25 | Last reported sale price for Common Stock was $38.48 per share |
| 2024-03-26 | Date of the prospectus |
Keywords
resale, common stock, series B preferred stock, registration statement, selling stockholders, spyre therapeutics, private placement, securities
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