LeonaBio warrants become exercisable at $6.35 a share, could raise about $146.2 million
LONA•Warrants become exercisable after enrollment milestone
LeonaBio triggered exercisability of 23,031,494 Series A Common Warrants by announcing enrollment of the 500th ELAINE-3 patient.
The warrants carry a $6.35 per-share cash exercise price, with cashless net exercise allowed if no resale registration statement is available.
The initial exercise date is the earlier of the specified milestone date or Oct. 31, 2026; termination occurs 30 days later.
Full exercise would deliver about $146.2 million in gross proceeds.
