Company: RNAC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001453687-25-000085
Chunk: 48

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 (in thousands):March 31,20252025 (remainder)$3,328 20264,538 20274,345 20282,314 20291,409 Thereafter2,188      Total future minimum lease payments18,122 Less: Imputed interest4,056      Total operating lease liabilities$14,066 The supplemental disclosure for the statements of cash flows related to operating leases was as follows (in thousands):Three Months EndedMarch 31,20252024Cash paid for amounts included in the measurement of lease liabilities:$317 $761 The changes in the Company’s right-of-use assets and lease liabilities for the three months ended March 31, 2025 and 2024 are reflected in the non-cash lease expense and accrued expenses and other liabilities, respectively, in the consolidated statements of cash flows.

20

The following summarizes additional information related to operating leases:March 31,20252024Weighted-average remaining lease term4.4 years4.0 yearsWeighted-average discount rate11.8 %9.9 %

11. Equity

Equity Financings2024 Private PlacementOn July 2, 2024, the Company and certain institutional and accredited investors, or the Purchasers, entered into the 2024 Securities Purchase Agreement for the 2024 Private Placement. Pursuant to the 2024 Securities Purchase Agreement, the Purchasers agreed to purchase an aggregate of 3,563,247 shares of common stock and 2,937,903 shares of Series B Preferred Stock, inclusive of 2,359,500 shares of Series B Preferred Stock purchased by directors and executive officers of the Company, and related parties thereto, each at a price per share of $20.00. The 2024 Private Placement resulted in gross proceeds of approximately $130.0 million before deducting placement agent fees and other offering expenses.“At-the-Market” OfferingOn December 13, 2024, the Company entered into a Sales Agreement, or the Sales Agreement, with Leerink Partners LLC to sell shares of the Company’s common stock, from time to time, through an “at the market” equity offering program under which Leerink Partners LLC will act as sales agent. The shares of common stock sold pursuant to the Sales Agreement will be issued pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-283803), filed on December 13, 2024 with the SEC