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- Immediate Dilution of $3.44 Per Share (new) — New investors pay $6.91 per share while the as-adjusted net tangible book value per share is $3.44 lower, representing a significant premium over book value.
- 6.48 Million Options Outstanding At Weighted-average Exercise Price of $6.56 (new) — A large option overhang exists with exercise prices near the offering price, which could lead to substantial dilution if exercised.
Werewolf Therapeutics launches $25M at-the-market offering at $6.91/share
Filed February 9, 2024 · ~1 min read
Key Changes
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Werewolf Therapeutics is selling up to $25 million of common stock in an at-the-market offering at $6.91 per share, the closing price on February 8, 2024.
The Offering verify on EDGAR → -
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The offering is primary, so all proceeds go to the company for general corporate purposes, including R&D, clinical trials, and working capital.
Use of Proceeds verify on EDGAR → -
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New investors face immediate dilution of $3.44 per share, the difference between the offering price and as-adjusted net tangible book value.
Dilution verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 3, 2026 · How we verify