Regulus Therapeutics Inc. announced that it has entered into a definitive securities purchase agreement in connection with a oversubscribed private placement to certain institutional investors and other accredited investors to issue 45,108,667 shares of the Company's common stock at a purchase price of $1.60 per share for the gross proceeds of $72,173,867.2 and non-voting class A-6 convertible preferred stock at a purchase price of $160 per share for the aggregate gross proceeds of approximately $100,000,000 on March 11, 2024. The transaction will include participation from new investors such as Adage Capital Partners, L.P. managed by Adage Capital Management, L.P., Deep Track Capital, LP, RA Capital Management, L.P., Vivo Capital, LLC, Octagon Capital Advisors LP and returning investors such as Federated Hermes Equity Funds - Federated Hermes Kaufmann Fund managed by Federated Hermes, Inc. and New Enterprise Associates, Inc. Each share of non-voting Class A-6 convertible preferred stock will be convertible into 100 shares of Common Stock, subject to certain beneficial ownership conversion limitations. The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended.

The transaction is expected to close on or about March 14, 2024. The closing of the financing is subject to customary closing conditions.