Codiak Announces Pricing of $20 Million Public Offering of Common Stock and Warrants

CAMBRIDGE, Mass., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Codiak BioSciences, Inc. (Nasdaq: CDAK) (“Codiak”), a clinical-stage biopharmaceutical company pioneering the development of exosome-based therapeutics as a new class of medicines, announced today the pricing of its underwritten public offering of 13,333,333 shares of its common stock and accompanying warrants to purchase 13,333,333 shares of common stock, at a combined public offering price of $1.50 per share, together with accompanying warrants, for gross proceeds of approximately $20 million, before deducting underwriting discounts and commissions and offering expenses. All of the securities are being offered by Codiak. The warrants have an exercise price of $1.875 per share, are exercisable immediately, and will expire five years following the date of issuance.  In addition, Codiak has granted the underwriters a 30-day option to purchase up to an additional 1,999,999 shares of its common stock and accompanying warrants to purchase 1,999,999 shares of common stock, at the public offering price, less underwriting discounts and commissions. The offering is expected to close on September 15, 2022, subject to customary closing conditions.

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