Nektar Therapeutics announced that it has entered into a securities purchase agreement with new investor TCG Crossover Fund II, L.P. to issue 25,000,000 pre-funded warrants at an issue price of $1.20 per warrant for the gross proceeds of $30,000,000 on March 4, 2024. he Pre-Funded Warrant will have an exercise price of $0.0001 per share of Common Stock. The holder of the Pre-Funded Warrant may not exercise the Pre-Funded Warrant if the holder, together with its affiliates, would beneficially own more than 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise.

The holder of the Pre-Funded Warrant may increase or decrease such percentages not in excess of 19.99% by providing at least 61 days? prior notice to the Company. The aggregate gross proceeds for the Private Placement will be $30,000,000, before deducting expenses payable by the Company.

The closing of the Private Placement is anticipated to occur on or before March 6, 2024, subject to the satisfaction of customary closing conditions. The Private Placement is exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the ?Securities Act?) and Rule 506(b) of Regulation D promulgated by the SEC thereunder, as a transaction by an issuer not involving a public offering. The Purchaser has acquired the Securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends have been affixed to the Securities issued in this transaction.