On January 22, 2024, ORIC Pharmaceuticals (ORIC), a clinical-stage oncology company, announced that it has agreed to sell approximately 12.5 million shares of its common stock to a select group of institutional and accredited healthcare specialist investors in a private placement, at a price per share of $10.00, representing a premium of approximately 10% to ORIC’s 5-day trailing average price. The financing is expected to close on January 23, 2024, subject to customary closing conditions. The gross proceeds to ORIC from the private placement, before deducting any offering related expenses, are approximately $125 million. Wilson Sonsini Goodrich & Rosati advised ORIC on the transaction.

The Wilson Sonsini team that advised ORIC on the transaction was led by Jennifer Knapp, Amanda Urquiza, Michael Brito-Stamm, Kym Tisder, and Leila Purqurian.

For more information, please see ORIC's news release.