Company: LENZ
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001815776-25-000071
Chunk: 352

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 352
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 which was declared effective by the SEC on April 14, 2025. The Company did not sell any shares of common stock under the Sales Agreement during the three months ended September 30, 2025. During the nine months ended September 30, 2025, the Company sold an aggregate of 920,500 shares of common stock at a weighted-average price of $28.75 under the Sales Agreement, resulting in net proceeds of $26.1 million. As of September 30, 2025, the Company had $123.5 million of capacity remaining under the Sales Agreement. In October 2025, the Company sold an aggregate of 2,698,134 shares of common stock at a weighted-average price of $45.79 under the Sales Agreement, utilizing the remaining capacity under the Sales Agreement.Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Other than the special dividend paid by Graphite immediately prior to the close of the Merger, no dividends have been declared or paid by the Company through September 30, 2025, and any such dividends are not cumulative.Common stock reserved for future issuance consist of the following:September 30, 2025Common stock options granted and outstanding3,823,097Shares available for issuance under incentive plans1,932,978Shares available for issuance under the ESPP517,217Warrants to purchase common stock164,252Restricted stock units granted and outstanding27,640Total6,465,184Warrants 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,