--- title: "C4 Therapeutics prices stock and warrant offering at $2.47" url: "https://aibio.space/news/c4-therapeutics-prices-stock-warrant-offering-2-47-expects-117-0/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-10-16" section: "Financings" tickers: "NASDAQ:CCCC" source: "https://www.sec.gov/Archives/edgar/data/1662579/000119312525241586/d12915d424b5.htm" summary: "Each share or pre-funded warrant comes with two warrant classes, each covering 50,608,500 shares at $2.22. C4 says the net proceeds would extend its cash r" --- By the aibio.space news desk. Sources - [C4 Therapeutics, Inc. 424B5 (2025-10-16)](https://www.sec.gov/Archives/edgar/data/1662579/000119312525241586/d12915d424b5.htm) - [d19436d8k.htm](https://www.sec.gov/Archives/edgar/data/1662579/000119312525241591/d19436d8k.htm) - [cccc-20251016.htm](https://www.sec.gov/Archives/edgar/data/1662579/000162828025045157/cccc-20251016.htm) - [C4 Therapeutics, Inc. 10-K (2025-02-27): business](https://www.sec.gov/Archives/edgar/data/1662579/000162828025008433/cccc-20241231.htm) [CCCC](https://aibio.space/companies/c4-therapeutics/) 2025-10-16 # C4 Therapeutics prices stock and warrant offering at $2.47, expects $117.0 million net Tickers [CCCC](https://aibio.space/companies/c4-therapeutics/) Each share or pre-funded warrant comes with two warrant classes, each covering 50,608,500 shares at $2.22. C4 says the net proceeds would extend its cash runway to the end of 2028, and the larger $341.7 million figure assumes every warrant is exercised for cash. ## Key facts - **Company**: C4 Therapeutics, Inc. (NASDAQ: CCCC) - **News type**: Financings - **Primary source**: [C4 Therapeutics, Inc. 424B5 (2025-10-16)](https://www.sec.gov/Archives/edgar/data/1662579/000119312525241586/d12915d424b5.htm) *A meeting room with a long table and a screen. CC0, via rawpixel. The picture shows the field, not the companies named.* C4 Therapeutics, Inc. (Nasdaq: [CCCC](https://aibio.space/companies/c4-therapeutics/)) agreed on October 16, 2025 to sell 21,895,000 shares of common stock in an underwritten offering. Investors who prefer not to hold common stock can buy pre-funded warrants for up to 28,713,500 shares instead. Each share or pre-funded warrant comes with a Class A warrant and a Class B warrant. The [prospectus supplement](https://www.sec.gov/Archives/edgar/data/1662579/000119312525241586/d12915d424b5.htm) sets the public offering price at $2.47 per share and $2.4699 per pre-funded warrant, for a total of $125,000,123.65. Underwriting discounts and commissions come to $7,500,179.70, leaving $117,499,943.95 of proceeds to C4 before expenses. The [8-K](https://www.sec.gov/Archives/edgar/data/1662579/000119312525241591/d19436d8k.htm) reports the underwriting agreement under Item 1.01, and closing was expected on or about October 17, 2025. ## Who is handling the deal The underwriting agreement, dated October 16, 2025, names Jefferies LLC, TD Securities (USA) LLC and Evercore Group L.L.C. as representatives of the underwriters and as joint book-running managers. The prospectus cover names the same three firms, with TD Securities shown as TD Cowen and Evercore as Evercore ISI. The 8-K names Goodwin Procter LLP as the firm giving the legality opinion, filed as Exhibit 5.1. Separately, C4 had sold 3,769,483 shares under an at-the-market program with TD Securities (USA) LLC, for gross proceeds of approximately $9.6 million, as of June 30, 2025. Effective October 16, 2025, the company terminated the sales agreement prospectus dated November 13, 2024. No shares will be sold under it unless a new prospectus is filed. The Sales Agreement, dated October 31, 2024, remains in force. ## The warrants and what they could add Both warrant classes are exercisable at $2.22 per share and cover 50,608,500 shares each. The Class A warrants expire on the earlier of 30 calendar days after C4 publicly releases nine-month median follow-up data from any expansion cohort in a planned Phase 1b study of cemsidomide with elranatamab, or the fifth anniversary of issuance. The Class B warrants run for five years. C4 may require their exercise after the six-month anniversary if the stock closes above $6.66 for ten consecutive trading days. The prospectus gives the October 15, 2025 closing price as $2.22. The 8-K says the company expects net proceeds of about $117.0 million, excluding any cash from warrant exercises, and that this will extend its cash runway to the end of 2028. If every warrant is exercised for cash, aggregate net proceeds would be $341.7 million. That larger figure depends on investors paying $2.22 a share for stock that closed at $2.22 on October 15, 2025. The prospectus also warns that sales of a substantial number of shares, including sales under the sales agreement, could depress the market price. ## The cemsidomide data and the pipeline The prospectus describes a completed Phase 1 trial of cemsidomide in multiple myeloma, with a July 23, 2025 data cutoff and an update to September 10, 2025. It says the drug given with dexamethasone was "generally well tolerated over the range of doses tested," and that it showed "robust IKZF1/3 degradation" and T-cell activation. It also says the drug showed "the potential for class-leading anti-myeloma activity." Those are the company's own words for an early trial. Calling the activity class-leading is a comparison the company makes from that trial, not a result the trial can settle. The prospectus also says C4 has decided not to advance CFT1946 beyond its current Phase 1 trial. The company had described that drug in its 10-K, filed February 27, 2025, as its next most advanced candidate, aimed at BRAF V600 mutant cancers. ## What the filings leave out The prospectus says the company intends to use the net proceeds together with its existing cash and marketable securities, which stood at $223.0 million as of June 30, 2025. The 8-K gives the runway date but no operating loss or cash-use figure, so the spending that the end-of-2028 date assumes cannot be read from the filing. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CCCC C4 Therapeutics, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/c4-therapeutics-prices-stock-warrant-offering-2-47-expects-117-0/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "C4 Therapeutics prices stock and warrant offering at $2.47", 2025-10-16, https://aibio.space/news/c4-therapeutics-prices-stock-warrant-offering-2-47-expects-117-0/