SEC Contract Filing

Filing Date: 2023-06-23

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d433690dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES PURCHASE AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This <B>S<SMALL>ECURITIES</SMALL> P<SMALL>URCHASE</SMALL> A<SMALL>GREEMENT</SMALL></B><SMALL></SMALL> (this
&#147;<B><I>Agreement</I></B>&#148;) is dated as of June&nbsp;22, 2023, by and among <B>A<SMALL>EGLEA</SMALL> B<SMALL>IO</SMALL>T<SMALL>HERAPEUTICS</SMALL>, I<SMALL>NC</SMALL>.</B>, a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and
each purchaser identified on Annex A hereto (each, including its successors and assigns, a &#147;<B><I>Purchaser</I></B>&#148; and collectively, the &#147;<B><I>Purchasers</I></B>&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>A.</B>&nbsp;&nbsp;&nbsp;&nbsp;The Company and each Purchaser is executing and delivering this Agreement in reliance upon the exemption from
securities registration afforded by Section&nbsp;4(a)(2) of the Securities Act of 1933, as amended, and the rules and regulations thereunder (the &#147;<B><I>Securities Act</I></B>&#148;), and Rule 506 of Regulation D (&#147;<B><I>Regulation
D</I></B>&#148;) as promulgated by the United States Securities and Exchange Commission (the &#147;<B><I>Commission</I></B>&#148;) under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>B.</B>&nbsp;&nbsp;&nbsp;&nbsp;Each Purchaser, severally and not jointly, wishes to purchase, and the Company wishes to issue and sell, upon
the terms and conditions stated in this Agreement, an aggregate of 721,452 shares (the &#147;<B><I>Securities</I></B>&#148;) of Series A <FONT STYLE="white-space:nowrap">Non-Voting</FONT> Convertible Preferred Stock, par value $0.0001 per share (and
including any other class of securities into which the Series A Preferred Stock may hereafter be reclassified or changed into, the &#147;<B><I>Series A Preferred Stock</I></B>&#148;) of the Company, having the designation, preferences, conversion or
other rights, voting powers, restrictions, limitations as to dividends, qualifications and terms and conditions as specified in the Certificate of Designation, in the form attached hereto as <B>Exhibit A</B> (the &#147;<B><I>Certificate of
Designation</I></B>&#148;), which will be convertible into shares (the &#147;<B><I>Conversion Shares</I></B>&#148;) of the Company&#146;s common stock, par value $0.0001 per share (&#147;<B><I>Common Stock</I></B>&#148;), in accordance with the
terms set forth in the Certificate of Designation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>C.</B>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the terms and conditions of the
Certificate of Designation, the conversion of the Series A Preferred Stock shall be subject to receipt of the Requisite Stockholder Approval (as defined herein). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>D.</B>&nbsp;&nbsp;&nbsp;&nbsp;The Company has engaged Jefferies LLC; Cowen and Company, LLC; Stifel, Nicolaus&nbsp;&amp; Company,
Incorporated; and Guggenheim Securities, LLC as its exclusive placement agents (the &#147;<B><I>Placement Agents</I></B>&#148;) for the offering of the Securities on a &#147;best efforts&#148; basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>E.</B>&nbsp;&nbsp;&nbsp;&nbsp;Concurrently with the execution and delivery of this Agreement, the Company is entering into an Agreement and
Plan of Merger by and among the Company, Aspen Merger Sub I, Inc., a Delaware corporation and wholly owned subsidiary of Parent (the &#147;<B><I>First Merger Sub</I></B>&#148;), Sequoia Merger Sub II, LLC, a Delaware limited liability company and
wholly owned subsidiary of Parent (the &#147;<B><I>Second Merger Sub</I></B>&#148;), and Spyre Therapeutics, Inc. (&#147;<B><I>Spyre</I></B>&#148;), in substantially the form attached hereto as <B>Exhibit G</B> attached hereto (the
&#147;<B><I>Merger Agreement</I></B>&#148;), pursuant to which the Company and Spyre intend to effect a merger of First Merger Sub with and into Spyre (the &#147;<B><I>First Merger</I></B>&#148;). Upon consummation of the First Merger, the First
Merger Sub will cease to exist and Spyre will become a wholly-owned subsidiary of the Company. Immediately following the First Merger and as part of the same overall transaction as the First Merger, Spyre will merge with and into Second Merger Sub
(the &#147;<B><I>Second Merger</I></B>&#148; and, together with the First Merger, the &#147;<B><I>Merger</I></B>&#148;), with Second Merger Sub being the surviving entity of the Second Merger. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>F.</B>&nbsp;&nbsp;&nbsp;&nbsp;Prior to the Closing: (i)&nbsp;the parties hereto shall execute and deliver a Registration Rights Agreement,
substantially in the form attached hereto as <B>Exhibit B</B> (the &#147;<B><I>Registration Rights Agreement</I></B>&#148;), pursuant to which, among other things, the Company