Xilio Therapeutics Announces Pricing of $50.0 Million Public Offering

Core Viewpoint - Xilio Therapeutics, Inc. has announced a public offering of pre-funded warrants and various series of warrants to raise approximately $50 million, aimed at advancing its tumor-activated immuno-oncology therapies for cancer treatment [1][3][4]. Group 1: Offering Details - The public offering includes 66,676,000 pre-funded warrants and corresponding Series A, B, and C warrants, with a combined offering price of $0.7499 per unit [1]. - The offering is expected to close around June 5, 2025, pending customary closing conditions [1]. - The initial gross proceeds from the offering are projected to be approximately $50 million before deducting underwriting discounts and commissions [3]. Group 2: Warrant Specifications - Pre-funded warrants are immediately exercisable until fully exercised, while Series A warrants can be exercised starting December 1, 2025, with an exercise price of $0.75 per share [2]. - Series B warrants will be exercisable on or after November 1, 2025, and Series C warrants on or after June 1, 2026, both with an exercise price of $0.75 per share [2]. Group 3: Use of Proceeds - The net proceeds from the offering will be utilized to advance the development of product candidates and for working capital and general corporate purposes [4]. Group 4: Company Overview - Xilio Therapeutics is focused on developing tumor-activated immuno-oncology therapies designed to improve cancer treatment outcomes while minimizing systemic side effects [8].