Mineralys Therapeutics, Inc. announced that it has entered into a share purchase agreement to issue 8,339,169 common shares at a price of $13.50 per share for the gross proceeds of $112,578,781.5 and pre-funded warrants to purchase an aggregate of 549,755 shares of Common Stock at a purchase price of $13.499 per Pre-Funded Warrant for gross proceeds of $7,421,142.745; for total gross proceeds of $119,999,924.245 on February 7, 2024. The transaction included participation from new investors, TCG Crossover Management, LLC, OrbiMed Advisors LLC, Venrock Healthcare Capital Partners, returning investors, RA Capital Management, L.P., Samsara BioCapital LLC and another investor. The transaction is expected to close on February 12, 2024.

Each Pre-Funded Warrant will have an exercise price of $0.001 per share of Common Stock, will be immediately exercisable on the date of issuance and will not expire. The Private Placement is exempt from the registration requirements of the Securities Act pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and in reliance on similar exemptions under applicable state laws.