Coya Therapeutics, Inc. Announces Pricing of $15.25 Million Initial Public Offering

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Coya Therapeutics, Inc., a clinical-stage biotechnology company developing proprietary therapies to improve the function of regulatory T cells, announced today the pricing of its initial public offering of 3,050,000 shares of common stock and warrants to purchase up to 1,525,000 shares of common stock. The warrants are being offered and sold at a rate of one warrant for every two shares of common stock purchased in the offering, with an exercise price of $7.50 per share for each full warrant. Before deducting underwriting discounts and offering expenses, each share of common stock and accompanying warrant is being sold at a combined offering price of $5.00, for a gross proceeds of approximately $15.25 million.

Furthermore, the Company has granted the underwriters a 30-day option to purchase up to an additional 290,000 shares of common stock and/or warrants to purchase 145,000 shares of common stock at the original public offering price, less the underwriting discount, to cover over-allotments. The Company is offering all of the shares of common stock and warrants.

The common stock is expected to begin trading on the Nasdaq Capital Market under the ticker “COYA” on December 29, 2022. The offering is projected to close on January 3, 2023, assuming all usual closing conditions are met. There will be no listing of the warrants on any securities exchange or other nationally recognized trading system.

After underwriting discounts, commissions, and projected offering expenses, net proceeds are expected to be around $13.2 million. The Company plans to use the majority of the net proceeds from the offering to progress its preclinical programs into clinical trials, to advance its discovery and candidate selection stage programs, and for general company reasons.

The offering’s book-running managers are Chardan and Newbridge Securities Corporation.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Headquartered in Houston, TX, Coya Therapeutics, Inc. (Nasdaq: COYA) is a clinical-stage biotechnology company developing proprietary treatments focused on the biology and potential therapeutic advantages of regulatory T cells (“Tregs”) to target systemic inflammation and neuroinflammation. Dysfunctional Tregs underlie numerous conditions including neurodegenerative, metabolic, and autoimmune diseases, and this cellular dysfunction may lead to a sustained inflammation and oxidative stress resulting in lack of homeostasis of the immune system. Coya’s product candidate pipeline leverages multiple therapeutic modalities aimed at restoring the anti-inflammatory and immunomodulatory functions of Tregs.

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