70 results
S-1/A
GUTS
Fractyl Health Inc.
29 Jan 24
IPO registration (amended)
6:09am
The pro forma as adjusted information below is illustrative only, and our capitalization following the closing of this offering will be adjusted based on the actual initial public offering price and other terms of this offering determined at pricing. You should read this information in conjunction with our consolidated financial statements and the related notes included elsewhere in this prospectus and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections and other financial information contained in this prospectus.
As of September 30, 2023 | ||||||||||||
Actual | Pro Forma | Pro Forma As Adjusted(1) | ||||||||||
(unaudited, in thousands, except share and per share amounts) | ||||||||||||
Cash and cash equivalents | $ | 44,500 | $ | 44,500 | $ | 143,527 | ||||||
Convertible notes payable, long-term | 27,225 | — | — | |||||||||
Non-convertible notes payable, long-term | 27,518 | 27,518 | 27,518 | |||||||||
Convertible preferred stock or common stock warrant liabilities | 14,036 | — | — | |||||||||
Convertible preferred stock, par value $0.00001 per share: 78,112,639 shares authorized, 77,994,156 shares issued and outstanding, actual; no shares authorized, issued or outstanding, pro forma and pro forma as adjusted | 287,330 | — | — | |||||||||
Stockholders’ equity (deficit): | ||||||||||||
Preferred stock, $0.00001 par value per share: no shares authorized, issued and outstanding, actual; 10,000,000 shares authorized, pro forma and pro forma as adjusted; no shares issued and outstanding, pro forma and pro forma as adjusted | — | — | — | |||||||||
Common stock, $0.00001 par value per share: 107,000,000 shares authorized, 2,095,129 shares issued and outstanding, actual; 300,000,000 shares authorized, pro forma and pro forma as adjusted; 40,219,283 shares issued and outstanding, pro forma; 47,552,616 shares issued and outstanding, pro forma as adjusted | — | — | — |
S-1/A
GUTS
Fractyl Health Inc.
29 Jan 24
IPO registration (amended)
6:09am
The following table illustrates this dilution:
Assumed initial public offering price per share of common stock | $ | 15.00 | ||||||
Historical net tangible book value (deficit) per share as of September 30, 2023 | $ | (147.26) | ||||||
Increase per share attributable to the issuance of the 2022 Convertible Notes, the conversion of outstanding convertible preferred stock and settlement of the 2022 Convertible Notes | 147.76 | |||||||
Pro forma net tangible book value per share as of September 30, 2023 before this offering | 0.50 | |||||||
Increase in pro forma as adjusted net tangible book value per share attributable to investors in this offering | 2.03 | |||||||
Pro forma as adjusted net tangible book value per share after this offering | 2.53 | |||||||
Dilution per share to new common stock investors in this offering | $ | 12.47 | ||||||
S-1/A
GUTS
Fractyl Health Inc.
29 Jan 24
IPO registration (amended)
6:09am
The following table summarizes by grant date and type of award, the number of equity-based awards granted between January 1, 2022 and the date of this prospectus, the per share exercise price, the fair value of common stock on each grant date and the per share estimated fair value of the awards:
Grant Date | Type of Award | Number of Shares Subject to Awards Granted | Per Share Exercise Price | Fair Value of Common Stock on Grant Date | Per Share Estimated Fair Value of Awards on Grant Date | |||||||||||||
March 8, 2022 | Stock option | 480,877 | $ | 11.85 | $ | 11.85 | $ | 6.40 | ||||||||||
September 7, 2022 | Stock option | 1,142,072 | $ | 8.59 | $ | 8.59 | $ | 5.56 | ||||||||||
November 2, 2022 | Stock option | 243,195 | $ | 8.59 | $ | 8.59 | $ | 5.00 | ||||||||||
December 7, 2022 | Stock option | 140,718 | $ | 8.59 | $ | 8.59 | $ | 4.91 | ||||||||||
March 16, 2023 | Stock option | 955,878 | $ | 8.18 | $ | 8.18 | $ | 4.72 | ||||||||||
June 7, 2023 | Stock option | 172,406 | $ | 8.18 | $ | 8.18 | $ | 4.81 | ||||||||||
August 21, 2023 | Stock option | 37,686 | $ | 11.21 | $ | 11.21 | $ | 6.65 | ||||||||||
August 21, 2023 | Restricted stock units | 40,829 | $ | — | $ | 11.21 | $ | 11.21 | ||||||||||
September 13, 2023 | Stock option | 516,177 | $ | 11.21 | $ | 11.21 | $ | 6.67 | ||||||||||
November 10, 2023 | Stock option | 151,427 | $ | 11.21 | $ | 11.21 | $ | 6.76 | ||||||||||
November 10, 2023 | Restricted stock units | 563,680 | $ | — | $ | 11.21 | $ | 11.21 |
S-1/A
GUTS
Fractyl Health Inc.
29 Jan 24
IPO registration (amended)
6:09am
The following table summarizes the number of shares of common stock underlying outstanding equity incentive plan awards for each named executive officer as of December 31, 2023.
Option Awards | ||||||||||||||||||||||||||||
Name | Vesting Start Date | Underlying Un-exercised Options (#) Exercisable | Underlying Un-exercised Options (#) Un-exercisable | Option Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock that have not Vested (#) | Market Value of Shares of Units of Stock that have not Vested ($)(1) | |||||||||||||||||||||
Harith Rajagopalan, M.D., Ph.D.(2) . | 8/19/2014 | 190,968 | 0 | 1.70 | 11/10/2024 | — | — | |||||||||||||||||||||
3/01/2015 | 123,484 | 0 | 1.70 | 2/09/2025 | — | — | ||||||||||||||||||||||
12/17/2015 | 345,078 | — | $ | 2.67 | 12/16/2025 | — | — | |||||||||||||||||||||
6/27/2016 | 179,868 | 0 | 2.67 | 6/26/2026 | — | — | ||||||||||||||||||||||
3/14/2018 | 422,473 | 0 | 3.35 | 3/13/2028 | — | — | ||||||||||||||||||||||
3/26/2020 | 445,333 | 29,688 | 3.89 | 3/25/2030 | — | — | ||||||||||||||||||||||
6/24/2021 | 164,335 | 98,602 | 6.98 | 6/23/2031 | — | — | ||||||||||||||||||||||
9/07/2022 | 5,096 | 11,213 | 8.59 | 9/06/2032 | — | — | ||||||||||||||||||||||
3/16/2023 | 6,116 | 26,502 | 8.18 | 3/15/2033 | — | — | ||||||||||||||||||||||
11/10/2023 | 0 | 17,031 | (3) | 11.21 | 11/09/2033 | — | — | |||||||||||||||||||||
$ | 3,253,86 | |||||||||||||||||||||||||||
11/10/2023 | — | — | — | 11/09/2030 | 216,924 | (7) | 0 | |||||||||||||||||||||
Timothy Kieffer, Ph.D. | 10/14/2022 | 5,436 | (4) | 3,883 | 8.59 | 12/06/2032 | — | — | ||||||||||||||||||||
9/12/2023 | 0 | 498,005 | (5) | 11.21 | 9/12/2033 | — | — | |||||||||||||||||||||
Jay D. Caplan(6) | 8/19/2014 | 95,484 | 0 | 0.82 | 11/10/2024 | — | — | |||||||||||||||||||||
3/01/2015 | 61,742 | 0 | 1.70 | 2/09/2025 | — | — | ||||||||||||||||||||||
12/17/2015 | 145,875 | — | $ | 2.67 | 12/16/2025 | — | — | |||||||||||||||||||||
6/27/2016 | 23,298 | 0 | 2.67 | 6/26/2026 | — | — | ||||||||||||||||||||||
3/14/2018 | 94,879 | 0 | 3.35 | 3/13/2028 | — | — | ||||||||||||||||||||||
3/26/2020 | 12,022 | 802 | 3.89 | 3/25/2030 | — | — | ||||||||||||||||||||||
6/24/2021 | 24,358 | 14,616 | 6.98 | 6/23/2031 | — | — | ||||||||||||||||||||||
9/07/2022 | 3,639 | 8,010 | 8.59 | 9/06/2032 | — | — | ||||||||||||||||||||||
3/16/2023 | 4,805 | 20,823 | 8.18 | 3/15/2033 | — | — | ||||||||||||||||||||||
11/10/2023 | 0 | 14,701 | (3) | 11.21 | 11/09/2033 | — | — | |||||||||||||||||||||
11/10/2023 | — | — | — | 11/09/2030 | 187,257 | (7) | $ | 2,808,855 |
S-1/A
GUTS
Fractyl Health Inc.
29 Jan 24
IPO registration (amended)
6:09am
Risk-free interest rate | 4.62 | % | ||
Expected term (in years) | 6.25 | |||
Expected volatility | 59 | % | ||
Expected dividend yield | 0 | % | ||
Grant date fair value | $ | 6.78 |
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29 Jan 24
IPO registration (amended)
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IPO registration (amended)
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IPO registration (amended)
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29 Jan 24
IPO registration (amended)
6:09am