The Life Sciences and Capital Markets teams advised Entrada Therapeutics (Nasdaq: TRDA) on the closing of its registered direct offering of 6,734,006 shares of its common stock, consisting of 3,367,003 shares of common stock at a purchase price of $14.85 per share and pre-funded warrants to purchase up to 3,367,003 shares of common stock at a purchase price of $14.8499 per pre-funded warrant, which represents the per share purchase price of common stock less the $0.0001 per share exercise price for each pre-funded warrant. The gross proceeds from the offering, before deducting offering expenses, were approximately $100.0 million.
The offering was led by a U.S.-based healthcare focused investor, two global mutual funds and Janus Henderson Investors, a global asset management firm.
Entrada Therapeutics is a clinical-stage biopharmaceutical company aiming to transform the lives of patients by establishing a new class of medicines that engage intracellular targets that have long been considered inaccessible. The company’s Endosomal Escape Vehicle (EEV™)-therapeutics are designed to enable the efficient intracellular delivery of a wide range of therapeutics into a variety of organs and tissues, resulting in an improved therapeutic index.
The Goodwin team was led by Kingsley Taft, Sarah Ashfaq, Brittany Morreale, Karin Yoo and Li Chang and included Elizabeth Mulkey (FDA); Alex Intile and Jacob Lee (Cybersecurity); Dan Karelitz (Tax); and Brad Weber (Opinions), with invaluable assistance from Jim Matarese.
For additional details on the offering, please read the press release.