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# Spyre Therapeutics Prices 4.1 Million Shares At $85.00, Targeting $350.0 Million In Gross Proceeds
- URL: https://www.bullished.co/spyre-therapeutics-prices-4-1-million-shares-at-85-00-targeting-350-0-million-in-gross-39a2c144/
- Published: 2026-10-07T12:05:53.000Z
- Updated: 2026-10-07T14:51:13.000Z
- Description: An 8-K says the sale funds a late-stage SPY072 program in hidradenitis suppurativa, with closing expected on or about Wednesday.
- Author: Matteo Parrino
- Tags: SEC Filings, SYRE, Industry: Healthcare

[Spyre Therapeutics](https://www.bullished.co/tag/syre/) agreed on Monday to sell [4,117,648 shares at $85.00 each](https://www.sec.gov/Archives/edgar/data/0001636282/000162828026065291/syre-20261005.htm?ref=bullished.co), an 8-K filed Wednesday says, for expected gross proceeds of about $350.0 million before underwriting discounts and offering expenses. The money is meant to push its experimental drugs toward late-stage development.

## What the 8-K says

Spyre signed an [underwriting agreement](https://www.sec.gov/Archives/edgar/data/0001636282/000162828026065291/exhibit11-8xk.htm?ref=bullished.co) on October 5 with Jefferies, TD Securities, Leerink Partners and Stifel, who act as representatives of the underwriters. LifeSci Capital also takes a share.

Underwriters hold a 30-day option to buy up to 617,647 more shares on the same terms. The agreement sets the price they pay the company at $79.90 per share.

The sale is expected to close on or about Wednesday, subject to customary closing conditions. It draws on a shelf registration statement that became effective on June 26, 2026, which lets the company issue stock without a fresh SEC review.

Spyre and its directors and officers cannot sell or hedge company stock for 60 days after the final prospectus date unless the underwriters consent.

## Where the money goes

Spyre says it will use net proceeds to advance programs in gastroenterology, rheumatology and dermatology. That covers preclinical studies, clinical trials, manufacturing and readiness for late-stage trials, plus a new program to take SPY072 into late-stage development for hidradenitis suppurativa.

A portion will go to general infrastructure. The company may also use some to in-license, acquire or invest in other businesses, technologies, products or assets. Anything left goes to research, working capital and general corporate purposes.

The agreement also lets Spyre keep selling stock under a separate June 26 sales agreement with TD Securities, but only after the underwriters' option is exercised in full or 30 days pass.

## What it changes for holders

If you own the stock, the share count rises by at least 4,117,648 shares, and by up to 617,647 more if the option is used.

Spyre shares closed at $80.11 at Tuesday's close, down 13.6% from the prior session, before the filing was accepted Wednesday at 8:00 a.m. ET. [Yahoo Finance](https://sg.finance.yahoo.com/news/spyre-therapeutics-stock-falls-public-204622016.html?ref=bullished.co) reported that shares slipped in after-hours trading on Monday when the offering was launched.

Next dates: whether the offering closes on or about Wednesday as scheduled, and whether underwriters use their 30-day option on the extra 617,647 shares.

### Sources

- [8-K Filing — Spyre Therapeutics, Inc. (SYRE)](https://www.sec.gov/Archives/edgar/data/0001636282/000162828026065291/syre-20261005.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit exhibit11-8xk.htm — Spyre Therapeutics, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001636282/000162828026065291/exhibit11-8xk.htm?ref=bullished.co) — SEC EDGAR
- [Spyre Therapeutics stock falls on public offering launch](https://sg.finance.yahoo.com/news/spyre-therapeutics-stock-falls-public-204622016.html?ref=bullished.co) — Yahoo Finance

### More on Spyre Therapeutics

- [Spyre Therapeutics Prices $350 Million Stock Sale At $85 A Share, Below October 2 Price](https://www.bullished.co/spyre-therapeutics-prices-350-million-stock-sale-at-85-a-share-below-october-2-price-0cd7c9b1/)

[All Spyre Therapeutics (SYRE) coverage →](https://www.bullished.co/tag/syre/)