Leap Therapeutics Announces $58.88 Million Private Placement in Cash Commitments Led by Winklevoss Capital to Initiate a Digital Asset Treasury Strategy

Core Insights - Leap Therapeutics announced a private investment in public equity (PIPE) offering amounting to $58,888,888, led by Winklevoss Capital, to initiate a digital asset treasury strategy [1][2] - The offering includes the purchase of 95,849,353 shares of common stock and warrants for an additional 71,887,008 shares at an exercise price of $0.5335 per share [1][2] - The company plans to utilize part of the capital for the development of its therapeutic programs, including FL-501 and sirexatamab, which recently completed a Phase 2 trial for colorectal cancer [2] Financial Details - The aggregate exercise price per Unit in the PIPE offering is set at $0.61439 [1] - The closing of the private placement is expected around October 8, 2025, pending customary closing conditions [3] Strategic Developments - Winklevoss Capital will provide both capital and strategic support, and will have the right to nominate two members to Leap's Board of Directors, including a chairperson [2][3] - Leap has selected Parcrest as the placement agent, with Morgan, Lewis & Bockius LLP and Cooley LLP serving as legal advisors [4] Regulatory Compliance - The securities are being offered in a private placement under exemptions from the registration requirements of the Securities Act of 1933 [5] - A registration rights agreement has been established to allow for the resale of the purchased shares [5]