Ropes & Gray Advised Zenas BioPharma on PIPE

Ropes & Gray advised Zenas BioPharma in a private investment in public equity (PIPE) that is expected to result in gross proceeds to Zenas of approximately $120 million, before deducting placement agent fees and other private placement expenses payable by Zenas.

Pursuant to the terms of the securities purchase agreement, Zenas will issue approximately 6.3 million shares of its common stock to certain institutional and accredited investors at a price of $19 per share and certain directors and officers of the company at a price of $20.85 per share.

The Ropes & Gray team was led by capital markets partner Tom Danielski and included capital markets counsel Nicholas Roper and capital markets associate Emily Weiss-Cook.