SAB Biotherapeutics, Inc. announced that it has issued approximately 130,000,000 preferred shares on October 2, 2023. The company has entered into a securities purchase agreement. The company has issued warrants in the transaction.

The transaction includes participation from existing investors and new institutional investors. The transaction included participation from BVF Partners, Sessa Capital, Commodore Capital, RTW Investments, Marshall Wace, and the JDRF T1D Fund.