On December 6, 2024, 4D Molecular Therapeutics entered into an exchange agreement with RA Capital Healthcare Fund, L.P. Under this agreement, RA Capital exchanged 535,000 shares of the company's common stock for a pre-funded warrant to acquire an equal number of shares. This transaction was disclosed in a Form 8-K filing.
The pre-funded warrant has an exercise price of $0.0001 per underlying share of common stock and is exercisable at any time until fully exercised. It includes a beneficial ownership blocker, preventing the holder from exercising if it would cause their aggregate beneficial ownership to exceed 9.99% of the total outstanding common stock.
The company issued the pre-funded warrant without registration, relying on an exemption from registration under Section 3(a)(9) of the Securities Act of 1933. This move allows RA Capital to manage its ownership stake while maintaining its investment in 4DMT, reflecting ongoing institutional engagement with the company.
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