Latham & Watkins Advises UNITY Biotechnology in Its Upsized Public Offering

UNITY Biotechnology, Inc. (Nasdaq:UBX), a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, has announced the pricing of an upsized underwritten public offering of 64,285,714 shares of its common stock and accompanying warrants to purchase up to 64,285,714 shares of common stock at a combined public offering price of US$0.70 per share and accompanying warrant. The warrants have an exercise price of US$0.85 per share, are exercisable immediately, and will expire five years following the date of issuance. The gross proceeds to UNITY from the offering are expected to be approximately US$45 million, before underwriting discounts and commissions and offering costs. All of the securities are being offered by UNITY. The offering is expected to close on August 22, 2022, subject to customary closing conditions.

Latham & Watkins LLP represents UNITY Biotechnology in the transaction with a Bay Area-based team led by Brian Cuneo and Erica Kassman, with Zuzanna Gruca, Raul Gonzalez, Billy Wu and AJ Blair. Advice was also provided on tax matters by Katharine Moir, with Gregory Conyers; and on regulatory matters by Amy Speros, with Kiera Murphy.