Aura Biosciences Announces Pricing of $260 Million Public Offering of Common Stock and Pre-funded Warrants

Aura Biosciences (Nasdaq: AURA) priced a public offering to sell 39,591,000 shares and pre-funded warrants for up to 3,800,000 shares, at $6.00 and $5.99999 respectively, with gross proceeds expected of $260.3 million.

Rhea-AI Summary

Aura Biosciences (Nasdaq: AURA) priced a public offering to sell 39,591,000 shares and pre-funded warrants for up to 3,800,000 shares, at $6.00 and $5.99999 respectively, with gross proceeds expected of $260.3 million. Aura granted underwriters a 30-day option for up to 6,508,650 additional shares. The offering is expected to close on or about May 5, 2026. Aura intends to use approximately $205.1 million of net proceeds, plus existing cash, to advance clinical programs and registration-enabling activities for bel-sar, and to repurchase up to 6,922,870 shares from Matrix at $5.64 per share.

Positive

• Gross proceeds expected of $260.3 million
• Approximately $205.1 million earmarked for clinical programs
• Planned repurchase of up to 6,922,870 Matrix-held shares

Negative

• Issuance of 39,591,000 new common shares increases outstanding stock
• Underwriters' option could add 6,508,650 additional shares
• Pre-funded warrants for up to 3,800,000 shares are dilutive upon exercise

Argus May 4 session

+19.12% close to close Open Argus

Details

News Market Reaction – AURA

On May 4, the day this news came out, AURA closed 19.12% above the previous close.

Data tracked by StockTitan Argus for the May 4 session.

Market Context

On May 4, the day this news came out, the stock closed 19.1% above the previous close. A strong posi...

Analysis

On May 4, the day this news came out, the stock closed 19.1% above the previous close. A strong positive reaction aligns with prior offering history, where similar financings saw average moves of about 5.71%. The market may view the $260.3M raise and $205.1M clinical funding allocation as strengthening Aura’s ability to advance bel-sar toward pivotal milestones. However, investors have previously faced recurring equity raises and a going-concern flag, so enthusiasm could fade if future capital needs re-emerge quickly.

Key Figures

Gross proceeds: $260.3M Common shares offered: 39,591,000 shares Pre-funded warrants: 3,800,000 warrants +5 more

Gross proceeds

$260.3M

Expected from current offering before fees and option exercise

Common shares offered

39,591,000 shares

New common stock issued in the offering

Pre-funded warrants

3,800,000 warrants

Pre-funded warrants to purchase common shares

Underwriter option

6,508,650 shares

30-day option for additional common shares

Offering price

$6.00 per share

Public offering price for common stock

Pre-funded price

$5.99999 per warrant

Price per pre-funded warrant

Clinical funding allocation

$205.1M

Net proceeds earmarked with cash to advance clinical programs

Share repurchase from Matrix

6,922,870 shares at $5.64

Planned buyback from Matrix Capital Management Master Fund, LP

Previous Offering Reports

2 past events · Latest: May 15

Same Type 2 events

1. May 15

   Equity offering priced

   24h Move

   +5.7%

   Pricing of public offering expected to raise $75.0M for clinical programs.

2. May 15

   Equity offering proposed

   24h Move

   +5.7%

   Proposed public offering of common stock and warrants under an existing registration.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

pre-funded warrants, underwritten public offering, exercise price, Rule 462(b), +1 more

5 terms

pre-funded warrants financial

"in lieu of common stock to certain investors, pre-funded warrants to purchase"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

underwritten public offering financial

"today announced the pricing of an underwritten public offering consisting of"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

exercise price financial

"pre-funded warrants to purchase an aggregate of up to 3,800,000 shares ... at an exercise price"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Rule 462(b) regulatory

"a related registration statement that was filed with the SEC on May 4, 2026 pursuant to Rule 462(b)"

Rule 462(b) is an SEC provision that lets an issuer add more securities of the same class to an already-effective registration statement by filing a short post-effective amendment that becomes effective on filing, so the additional securities are immediately registered without redoing the full approval process. For investors this matters because it lets companies and underwriters expand an offering quickly—like adding extra seats to a sold-out show—changing supply and potential dilution that can affect the stock price.

prospectus supplement regulatory

"The offering is being made only by means of a written prospectus and prospectus supplement"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BOSTON, May 04, 2026 (GLOBE NEWSWIRE) -- Aura Biosciences, Inc. (“Aura”) (Nasdaq: AURA), a clinical-stage biotechnology company developing precision therapies for solid tumors designed to preserve organ function, today announced the pricing of an underwritten public offering consisting of (i) 39,591,000 shares of its common stock and (ii) in lieu of common stock to certain investors, pre-funded warrants to purchase an aggregate of up to 3,800,000 shares of its common stock at an exercise price of $0.00001 per pre-funded warrant. In addition, Aura has granted the underwriters a 30-day option to purchase up to an additional 6,508,650 shares of its common stock on the same terms and conditions. The offering price of each share of common stock is $6.00. The offering price of each pre-funded warrant is $5.99999.

All of the shares and pre-funded warrants in the offering are being sold by Aura. The gross proceeds from the offering to Aura are expected to be $260.3 million, before deducting underwriting discounts and commissions and other offering expenses and excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about May 5, 2026, subject to customary closing conditions.

Aura intends to use $205.1 million of the net proceeds from the offering, together with existing cash, cash equivalents and marketable securities, to advance its clinical programs, including in early choroidal melanoma, and for registration-enabling activities for bel-sar, as well as for general corporate purposes. Aura plans to use the remaining net proceeds from the offering to repurchase up to 6,922,870 shares from its stockholder, Matrix Capital Management Master Fund, LP (“Matrix”), which represents all shares of Aura’s common stock held by Matrix, at $5.64 per share, which is the price per share at which the underwriters will purchase shares of Aura’s common stock from Aura in the offering.

Leerink Partners, TD Cowen and Evercore ISI are acting as joint bookrunning managers for the offering. LifeSci Capital is also acting as a bookrunning manager in the offering. Citizens Capital Markets is acting as a co-manager for the offering.

A shelf registration statement relating to the shares of common stock and pre-funded warrants offered in the public offering described above was filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2024 and declared effective by the SEC on April 5, 2024 and a related registration statement that was filed with the SEC on May 4, 2026 pursuant to Rule 462(b) under the Securities Act of 1933, as amended (and became automatically effective upon filing). The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC on May 4, 2026, and are available on the SEC’s website located at www.sec.gov. A final prospectus supplement containing additional information relating to the offering and an accompanying prospectus will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained by contacting: Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52^nd Street, 35^th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Aura Biosciences

Aura Biosciences, Inc. is a clinical-stage biotechnology company focused on developing precision therapies for solid tumors that aim to preserve organ function. Aura’s lead candidate, bel-sar (AU-011), is currently in late-stage development for early choroidal melanoma and in early-stage development in other ocular oncology indications and bladder cancer. Aura is headquartered in Boston, MA. Aura’s mission is to grow as an innovative global oncology company that positively transforms the lives of patients.

Forward-Looking Statements

Various statements in this release concerning the use of proceeds, timing and completion of the public offering and stock repurchase on the anticipated terms or at all may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, as amended, and other federal securities laws. All such forward-looking statements are based on management’s current expectations of future events and are subject to a number of substantial risks and uncertainties, many of which are outside Aura’s control, that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include fluctuations in Aura’s stock price, changes in market conditions and satisfaction of customary closing conditions related to the public offering and stock repurchase, as well as those risks more fully discussed in the section entitled “Risk Factors” in the prospectus supplement and registration statement referenced above, Aura’s Annual Report on Form 10-K for the year ended December 31, 2025, filed on March 30, 2026 with the SEC and subsequent filings with the SEC including our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. There can be no assurance that Aura will be able to complete the public offering on the anticipated terms. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and Aura undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

Investor and Media Contact:

Alex Dasalla
Head of Investor Relations and Corporate Communications
IR@aurabiosciences.com

Source: Aura Biosciences, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much is Aura (AURA) raising in the May 4, 2026 public offering?

Aura is expected to raise gross proceeds of $260.3 million. According to the company, that figure is before underwriting discounts, commissions and offering expenses and excludes any exercise of the underwriters' option.

What will Aura (AURA) use the offering proceeds for and how much?

Aura plans to use about $205.1 million of net proceeds to advance clinical programs. According to the company, remaining funds plus existing cash will support registration-enabling activities for bel-sar and general corporate purposes.

How many shares and warrants did Aura (AURA) offer in the May 2026 deal?

The offering includes 39,591,000 common shares and pre-funded warrants for up to 3,800,000 shares. According to the company, the underwriters also have a 30-day option for up to 6,508,650 additional shares.

Will the Aura (AURA) offering cause shareholder dilution and by how much?

Yes, issuance of 39,591,000 shares plus potential underwriter shares and warrant exercises will dilute ownership. According to the company, dilution magnitude depends on underwriting option exercise and future warrant conversions.

What is the planned repurchase related to Aura's (AURA) offering and its terms?

Aura plans to repurchase up to 6,922,870 shares from Matrix at $5.64 per share. According to the company, that represents all shares held by Matrix and uses remaining net proceeds from the offering.