Spyre Therapeutics, Inc. Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares for Gross Proceeds of $463.5 Million

Spyre Therapeutics (Nasdaq: SYRE) closed an underwritten public offering on April 16, 2026, selling 7,475,000 shares at $62.00 per share, including full exercise of a 975,000‑share overallotment option.

Rhea-AI Summary

Spyre Therapeutics (Nasdaq: SYRE) closed an underwritten public offering on April 16, 2026, selling 7,475,000 shares at $62.00 per share, including full exercise of a 975,000‑share overallotment option. Gross proceeds were approximately $463.5 million before underwriting discounts and offering expenses.

Jefferies, Goldman Sachs, Evercore ISI and Guggenheim acted as joint book‑running managers; a final prospectus supplement was filed April 14, 2026 and related filings became effective February 27, 2026.

Positive

• Gross proceeds of $463.5 million
• Sale of 7,475,000 common shares completed
• Full exercise of 975,000 overallotment option

Negative

• Underwriting discounts and offering expenses will reduce net proceeds
• Issuance of 7,475,000 new shares may dilute existing shareholders

Argus Apr 17 session

+4.75% close to close Open Argus

Details

News Market Reaction – SYRE

On Apr 17, the first trading day after this news, SYRE closed 4.75% above the previous close.

Data tracked by StockTitan Argus for the Apr 17 session.

Market Context

This announcement confirms closing of Spyre’s latest underwritten equity raise, issuing 7,475,000 sh...

Analysis

This announcement confirms closing of Spyre’s latest underwritten equity raise, issuing 7,475,000 shares at $62.00 for $463.5M in gross proceeds under an effective $500M shelf. Historically, similar offerings have seen modestly positive one-day moves. Key factors to monitor include future use of remaining shelf capacity, follow-on financing activity, and how efficiently new capital advances its IBD and rheumatic disease antibody programs.

Key Figures

Shares offered: 7,475,000 shares Over-allotment option: 975,000 shares Offering price: $62.00 per share +5 more

Shares offered

7,475,000 shares

Total common stock sold including underwriters’ option

Over-allotment option

975,000 shares

Underwriters’ fully exercised additional shares

Offering price

$62.00 per share

Public offering price for this transaction

Gross proceeds

$463.5 million

Total gross proceeds before fees and expenses

Shelf capacity

$500,000,000

Maximum aggregate amount under effective Form S-3 shelf

Price move

7.78%

One-day change prior to/around offering closing

52-week range

$12.04 – $75.00

Current price 8.01% below 52-week high

Relative volume

3.21x

Today’s volume vs. 20-day average

Previous Offering Reports

5 past events · Latest: Apr 14

Same Type 5 events

1. Apr 14

   Offering pricing

   24h Move

   +7.8%

   Upsized underwritten common stock offering priced at $62.00, raising $403M gross.

2. Apr 13

   Proposed offering

   24h Move

   +1.2%

   Company announced proposed $300M primary common stock offering with 30-day underwriter option.

3. Oct 15

   Offering closing

   24h Move

   +0.2%

   Closed underwritten offering of 17.09M shares at $18.50, raising $316.2M gross.

4. Oct 13

   Offering pricing

   24h Move

   +11.0%

   Priced 14.86M-share offering at $18.50 for expected $275M gross proceeds.

5. Oct 13

   Proposed offering

   24h Move

   +11.0%

   Announced proposed common stock and pre-funded warrant offering; all securities sold by Spyre.

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

Key Terms

underwritten public offering, underwriters’ option, public offering price, gross proceeds, +4 more

8 terms

underwritten public offering financial

"announced the closing of its previously announced underwritten public offering of 7,475,000"

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.

underwriters’ option financial

"including the full exercise of the underwriters’ option to purchase up to 975,000"

An underwriters’ option is a provision in a securities offering that lets the group selling the new shares buy a fixed extra amount (often up to 15%) from the issuer after the sale. It acts like a short-term safety valve: if demand is strong, underwriters exercise the option and supply extra shares; if the price falls, they can use the option to stabilize the market. For investors this matters because it affects how many shares come to market, potential short-term dilution, and post-offering price stability—similar to having a reserve supply to smooth out sudden swings.

public offering price financial

"at a public offering price per share of $62.00."

The public offering price is the amount of money a company charges investors to buy its shares during a new stock sale to the public. It determines how much the company raises and how much each share is worth at the start of trading. For investors, it helps gauge the initial value of the stock and whether it might be a good investment opportunity.

gross proceeds financial

"The gross proceeds to Spyre from the offering were approximately $463.5 million"

The total amount of cash a company receives from a financing event or sale before any fees, expenses, taxes or deductions are taken out. Investors watch gross proceeds because it shows the raw scale of new capital being raised—think of it as the paycheck amount before withholdings—which helps assess how much funding is available for operations, growth, debt payoff or how much shareholder dilution might occur once costs are removed.

registration statement regulatory

"A registration statement on Form S-3 (File No. 333-293600) relating to these"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

form s-3 regulatory

"A registration statement on Form S-3 (File No. 333-293600) relating to these"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

prospectus supplement regulatory

"This offering was solely by means of a prospectus supplement and accompanying prospectus."

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.

securities and exchange commission regulatory

"filed with the Securities and Exchange Commission (the “SEC”) and became effective"

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

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

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WALTHAM, Mass., April 16, 2026 (GLOBE NEWSWIRE) -- Spyre Therapeutics, Inc. (“Spyre” or the “Company”) (Nasdaq: SYRE), a clinical-stage biotechnology company pioneering long-acting antibodies and antibody combinations to redefine the standard of care for inflammatory bowel disease (IBD) and rheumatic diseases, today announced the closing of its previously announced underwritten public offering of 7,475,000 shares of its common stock, including the full exercise of the underwriters’ option to purchase up to 975,000 additional shares, at a public offering price per share of $62.00. The gross proceeds to Spyre from the offering were approximately $463.5 million before deducting underwriting discounts and commissions and other offering expenses payable by Spyre.

Jefferies LLC, Goldman Sachs & Co. LLC, Evercore ISI, and Guggenheim Securities, LLC acted as the joint book-running managers for the offering. LifeSci Capital LLC acted as passive bookrunner for the offering.

A registration statement on Form S-3 (File No. 333-293600) relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and became effective on February 27, 2026. This offering was solely by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement dated April 14, 2026 and accompanying base prospectus relating to and describing the terms of the offering were filed with the SEC on April 16, 2026 and are available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by email at ecm.prospectus@evercore.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544 or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or LifeSci Capital LLC at 1700 Broadway, 40th Floor, New York, New York 10019, or by email at legalnotices@lifescicapital.com.

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

About Spyre Therapeutics

Spyre Therapeutics is a clinical-stage biotechnology company pioneering long-acting antibodies and antibody combinations to redefine the standard of care for IBD and rheumatic diseases. Spyre's pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, and IL-23.

For Investors:
Eric McIntyre
VP of Finance and Investor Relations
Spyre Therapeutics
Eric.mcintyre@spyre.com

For Media:
Josie Butler, 1AB
josie@1abmedia.com

FAQ

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

How many shares did Spyre Therapeutics (SYRE) sell in the April 16, 2026 offering?

Spyre sold 7,475,000 shares in the offering, including the overallotment shares. According to the company, that total includes a fully exercised 975,000‑share underwriters’ option that increased the offering size.

What were the offering proceeds for SYRE and how were they calculated?

Gross proceeds were approximately $463.5 million based on the $62.00 per‑share price and total shares sold. According to the company, this amount is before subtracting underwriting discounts, commissions, and offering expenses.

Who managed Spyre Therapeutics’ (SYRE) public offering completed April 16, 2026?

Jefferies, Goldman Sachs, Evercore ISI and Guggenheim served as joint book‑running managers. According to the company, LifeSci Capital acted as passive bookrunner for the offering.

When were the SEC filings for Spyre Therapeutics’ (SYRE) offering effective and filed?

The registration statement became effective on February 27, 2026, and a final prospectus supplement was dated April 14, 2026. According to the company, the final prospectus and related documents were filed April 16, 2026.

What impact does the SYRE offering have on existing shareholders?

The offering issued 7,475,000 new shares, which may dilute existing ownership percentages. According to the company, net proceeds will be lower than gross proceeds after underwriting discounts and offering expenses are deducted.