Coherus BioSciences (CHRS) Increases ATM Offering Program by $28.75M

On May 15, 2023, Coherus BioSciences (NASDAQ: CHRS) previously announced that it reduced the amount of shares that could be issued and sold pursuant to its “at-the-market” program (“ATM”) with Cowen and Company, LLC (“TD Cowen”) in an amount equal to $86.25 million. The reduction in the amount of shares that could be issued and sold was effected pursuant to the Amendment No. 1 to Sales Agreement (“Amendment No. 1”), which amended the Company’s Sales Agreement with TD Cowen, dated November 8, 2022 (the “Agreement”), to reduce the aggregate offering price under the Agreement from $150.0 million to $63.75 million.

On September 11, 2023, the Company increased the amount of shares that could be issued and sold pursuant to its ATM with TD Cowen in an amount equal to $28.75 million. The increase in the amount of shares that can be issued and sold under the ATM was effected pursuant to the Amendment No. 2 to Sales Agreement (“Amendment No. 2”), which amended the Agreement, as previously amended by Amendment No. 1, to increase the aggregate offering price under the Agreement from $63.75 million to $92.5 million.

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