Utah-based Sera Prognostics to Raise $50 Million to Help Leverage Proteomics to Boost its Efforts to Identify Preterm Birth Candidates and Improve Maternal and Neonatal Health

In plans announced earlier this week, Salt Lake City, Utah-based Sera Prognostics (NASDAQ:SERA) priced a secondary public offering on Monday, 10 February 2025, with plans to raise $50 million in gross proceeds yesterday, 12 February 2025.

As of 07:05am MT today (Thursday, 13 February 2025), Sera has not yet formally announced if had successfully closed this offering.

However, according to Monday's news release, Sera expected to sell

• 1.25 million shares of Class A stock at $4.00/share, plus
• 11.25 million pre-funded warrants to purchase an equal number of shares of Class A stock at a price of $3.9999/share to "... certain (unnamed) investors ... less the $0.0001 per share exercise price for each Pre-Funded Warrant."

As per Sera's amended Prospectus (filed on Form 425A with the U.S. Securities and Exchange Commission), "... before deducting underwriting discounts and commissions and other offering expenses," Sera expected to receive gross proceeds of approximately $50 million, with negligible additional proceeds from the exercise of the pre-funded warrants at 1/100th of a penny/exercised warrant.

Additionally, under the terms of the Underwriting Agreement, the underwriters were given a 30-day option to purchase up to 1.875 million additional shares of Sera's Class A common stock at the public offering price, less underwriting discounts and commissions. 

Jefferies, TD Cowen and William Blair are the joint book-running managers on the offering, with RBC Capital Markets served as a bookrunner for the offering.

Interestingly, in spite of the extra 1.25 million shares of Sera Class A common stock slated to be issued yesterday (as well as the issuance of the 11.25 million pre-funded warrants), the price of Sera's stock closed at $4.29/share, up 26-cents for the day or 6.45%.

Sera Prognostics: "The Pregnancy Company"

Sera, which uses the tagline "The Pregnancy Company," is focused on developing and marketing products designed to help minimize the negative impacts of preterm births.

According to Sera's most recent investor presentation, 1 in 10 "singleton" pregnancies result in a preterm birth.

Unfortunately, 34.2% of preterm births contribute to newborn deaths, often with mothers who did not exhibit advance indications that they were at risk for a preterm birth, defined as any birth that occurs before Week 37 in a pregnancy. In other words, these pregnant mothers were "asymptomatic."

To address this challenge and help mothers, newborns and families in the process, Sera provides the PreTRM Test, a simple blood test administered between Weeks 18—20 that is used to identify the presence of two proteins and other biometric variables to accurately predict the risk of a preterm delivery.

The PreTRM Test is currently available via "... a clinical laboratory permit to Sera Prognostics to perform testing in New York State."

However, it should be noted that Sera has not yet submitted its PreTRM Test for nationwide marketing clearance consideration by the U.S. Food and Drug Administration.

{PLEASE NOTE: With its secondary offering this week, Sera is currently in the midst of a "Quiet Period" and is unable to speak publicly with the press. As such, the PreTRM Test data shown above was gathered through previously published materials.}

Publisher's Note

This article/report was originally published and distributed to our Subscribers at approximately 07:05am (MT) on Thursday, 13 February 2025.

However, if this report/article came to your attention sometime after this date/time and you'd like to change that, then (to become a subscriber), please follow the steps below.

Simply,

1. Click on a "Subscribe" button on any Utah Money Watch webpage (visit www.UtahMoneyWatch.com),
2. Enter in your name in the proper field in the popup window that appears on-screen, and
3. Enter your preferred email address in the proper field too.

That's it. And "Yes," it really is that simple.

For context, the purpose of Utah Money Watch is to publish financial / monetary news, information, context, and analysis NOT available through any other source.

[You might think of us as the inverse of Bloomberg, CNBC, and/or The Wall Street Journal. In other words, we are passionately focused on uncovering the most important monetary, financial, and/or business news and information that impact the organizations and people of Utah first, followed by regional news/info second, and national/international info/news last of all.]

So ... if you're you interested in timely Utah-focused monetary, financial, and/or business news, context, and analysis, content NOT currently available through any other source, then subscribe today.

Thanks.

Team Utah Money Watch