| Item 1.01 | Entry into a Material Definitive Agreement. |
On July 17, 2023, Janux Therapeutics, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc., as representative of the underwriters named in Schedule A therein (the “Underwriters”), relating to the issuance and sale in an underwritten registered direct offering (the “Offering”) by the Company of (i) 4,153,717 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at an offering price of $12.46 per share, and (ii) pre-funded warrants to purchase 583,483 shares of Common Stock at a price of $12.459 per pre-funded warrant (the “Pre-Funded Warrants”), which represents the per share price for the Shares less a nominal $0.001 per share exercise price for each Pre-Funded Warrant. Gross proceeds from the Offering before deducting underwriting discounts and commissions and other offering expenses are expected to be approximately $60 million. The Shares and Pre-Funded Warrants in the Offering were offered pursuant to a registration statement on Form S-3 (File No. 333-266720), which was declared effective by the Securities and Exchange Commission (the “SEC”) on September 19, 2022, as supplemented by a prospectus supplement to be filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the “Securities Act”). All of the Shares and the Pre-Funded Warrants are being sold by the Company. BofA Securities, Inc. is acting as the sole bookrunning manager for this offering.
The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures exchanged between the parties in connection with the execution of the Underwriting Agreement.
The foregoing descriptions of the Underwriting Agreement and the Pre-Funded Warrants do not purport to be complete and are subject to, and qualified in their entirety by, the Underwriting Agreement and form of Pre-Funded Warrant, which are filed herewith as Exhibit 1.1 and Exhibit 4.1, respectively, and which are incorporated herein by reference.
A copy of the opinion of Cooley LLP, counsel to the Company, relating to the legality of the issuance and sale of the Shares and Pre-Funded Warrants offered in the Offering is attached as Exhibit 5.1 hereto.
On July 17, 2023, the Company issued a press release announcing the pricing of the Offering, the text of which is included as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
