Cidara Therapeutics, Inc. announced a private placement and signed a definitive purchase agreement to issue 240,000 shares of Series A Convertible Voting Preferred Stock at an issue price of $1,000 per share for the gross proceeds of $240,000,000 on April 23, 2024. The transaction was led by new investor RA CAPITAL HEALTHCARE FUND, L.P. for 100,000 shares and also include participation from other new investors BCLS FUND III INVESTMENTS, LP for 100,000 shares, CANAAN XII L.P. for 20,000 shares, BIOTECHNOLOGY VALUE FUND, L.P. for 10,594 shares, BIOTECHNOLOGY VALUE FUND II, L.P. for 8,416 shares, BIOTECHNOLOGY VALUE TRADING FUND OS LP for 692 shares and MSI BVF SPV, LLC for 298 shares. The Series A Preferred Stock and Conversion Shares are being sold and issued without registration under the Securities Act of 1933, as amended (the ?Securities Act?), in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act as a transaction not involving a public offering and Rule 506 promulgated under the Securities Act as sales to accredited investors, and in reliance on similar exemptions under applicable state laws.

The convertible shares are converted into common shares at a conversion price of $14.20 per share. The transaction is expected to close on April 24, 2024.