Company: DNLI
Filing Date: 2025-12-10
Form Type: 8-K
Source: 0001628280-25-056363
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Company: Denali Therapeutics Inc.
Filing Date: 2025-12-10
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On December 9, 2025, Denali Therapeutics Inc. (the “ Company”) entered into an underwriting agreement (the “ Underwriting Agreement”) with Goldman Sachs & Co. LLC, J. P. Morgan Securities LLC and Morgan Stanley & Co. LLC as representatives of the several underwriters named therein (collectively, the “ Underwriters”), relating to the public offering of 9,142,857 shares of the Company’s common stock, par value $0.01 per share (the “ Common Stock”), at a price to the public of $17.50 per share (the “ Firm Shares”), and pre-funded warrants (the “ Pre-Funded Warrants”) to purchase 2,285,714 shares of Common Stock at a price to the public of $17.49 per underlying share. Under the terms of the Underwriting Agreement, the Underwriters have agreed to purchase the Firm Shares from the Company at a price of $16.625 per share and the Pre-Funded Warrants at a price of $16.615 per underlying share. Additionally, the Company has granted the Underwriters an option exercisable for 30 days from the date of the Underwriting Agreement to purchase up to an additional 1,714,285 shares of Common Stock (together with the Firm Shares, the “ Shares”) at the public offering price, less underwriting discounts and commissions. The gross proceeds to the Company from this offering are expected to be approximately $200 million, or $230 million if the Underwriters exercise in full their option to purchase additional shares, in each case before deducting underwriting discounts and commissions and other estimated offering expenses payable by us. The offering is expected to close on December 11, 2025, subject to the satisfaction of customary closing conditions.

The Underwriting Agreement contains customary representations, warranties and agreements by us, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by such parties.

The public offering is being made pursuant to the Company’s effective registration statement on Form S-3ASR (File No. 333-285