Mintz advised the lead placement agent in connection with an up to $50 million private placement by Equillium, Inc. The PIPE was comprised of (i) an initial upfront closing of approximately $30 million in gross proceeds in exchange for approximately 52.6 million shares of common stock (or, for certain investors, pre-funded warrants in lieu of common stock), and (ii) the potential for up to an additional $20 million in gross proceeds in exchange for up to approximately 35.1 million shares of common stock (or, for certain investors, pre-funded warrants in lieu of common stock), subject to achieving specified milestones related to clinical study initiation and share price.
Leerink Partners acted as lead placement agent for the offering.
The Mintz capital markets team included William Hicks, John Rudy, Nishant Dharia, Sam Silver and Brooke Siegal. Members of the Mintz team are based in the Boston, New York and San Diego offices.