Company: LENZ
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001815776-25-000032
Chunk: 352

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 352
---
 incentive plans2,153,080Shares available for issuance under the ESPP526,309Warrants to purchase common stock164,676

16

Restricted stock units granted and outstanding29,740Total6,589,978Warrants LENZ OpCo issued warrants to acquire Class A common stock and Series A Convertible Preferred stock.The warrants to purchase 470,000 shares of Class A common stock had an exercise price of $0.21 per share and were issued in December 2020 with an expiration date in February 2024. In February 2024, prior to expiration, the holder exercised 470,000 warrants, resulting in $0.1 million of proceeds. These shares were subsequently exchanged for 95,034 shares of common stock at the closing of the Merger.The Series A Convertible Preferred stock warrants had an exercise price of $2.15 per share and were issued in October 2020 with an expiration date in October 2027. There were no exercises of the Series A Convertible Preferred stock warrants for any of the periods presented. In connection with the Merger, the Series A preferred stock warrants were converted to 164,676 common stock warrants of the Company at an exercise price of $10.64, and were subsequently reclassified to stockholders’ equity at their fair value of $1.9 million.Share-Based CompensationShare-based compensation expense was as follows (in thousands):Three Months Ended March 31,20252024Selling, general and administrative$1,902 $753 Research and development653 194 Total$2,555 $947 

8.     Net Loss Per Share

The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at period end, from the computation of diluted net loss per share attributable to common stockholders for the period indicated because including them would have had an anti-dilutive effect:March 31,20252024Common stock options granted and outstanding3,716,1733,265,986Warrants to purchase common stock164,676164,676Restricted stock units granted and outstanding29,740—ESPP shares to be purchased6,194—Total3,916