MoFo Represents Crinetics in $350 Million Private Placement

Morrison Foerster represented Crinetics Pharmaceuticals (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, in its private placement of 8,333,334 shares of its common stock at a price of $42.00 per share to a select group of institutional and accredited healthcare specialist investors in an oversubscribed private placement. Crinetics anticipates the gross proceeds from the private placement to be approximately $350 million, before deducting any offering-related expenses. The private placement is expected to close on or about March 1, 2024, subject to the satisfaction of customary closing conditions.

The transaction team was led by San Diego Corporate partner Jim Krenn and Washington, D.C. Public Company Advisory & Governance and Capital Markets of counsel Emily Beers. The core deal team also included San Diego Corporate associate Brennen Brodersen and New York Corporate associate Hannah Yang. 

Read more from Crinetics’ press release.