Xilio Therapeutics, Inc. entered into an underwriting agreement for an underwritten offering of pre-funded warrants to purchase up to 74,780,300 shares of common stock, with expected net proceeds of approximately $37.1 million, to be used for advancing product development and general corporate purposes.
Key takeaways
The Company entered into an underwriting agreement with Leerink Partners LLC on February 11, 2026, for an offering of pre-funded warrants.
The offering consists of pre-funded warrants to purchase up to 74,780,300 shares of common stock at a price to investors of $0.5349 per warrant.
Each pre-funded warrant is exercisable for one share of common stock at an exercise price of $0.0001 per share and is immediately exercisable.
The Company estimates net proceeds from the offering of approximately $37.1 million after deducting underwriting discounts, commissions, and estimated offering expenses.
The closing of the offering is expected to take place on or about February 13, 2026, subject to customary closing conditions.
The exercise of pre-funded warrants is subject to a beneficial ownership limitation of 4.99% (or up to 19.99% at the holder's election) of the Company's outstanding common stock.