Adagio Medical prices $50M private placement

Adagio Medical announced today that it entered into a securities purchase agreement worth up to $50 million in proceeds.

The company said certain accredited investors agreed to purchase shares of its common stock or pre-funded warrants and accompanying common warrants. It expects the agreement to result in approximately $19 million in upfront proceeds. Additional proceeds could reach up to approximately $31 million if investors exercise the warrants in full for cash.

Existing investor Perceptive Advisors has an affiliate leading the private placement. Participation also comes from certain healthcare-dedicated and institutional investors.

See full article (https://www.massdevice.com/adagio-medical-prices-50m-private-placement/)