Latham & Watkins Advises on Shattuck Labs’ US$50 Million Public Offering of Common Stock and Concurrent Private Placement of Pre-Funded Warrants

Shattuck Labs, Inc. (Shattuck or the company) (NASDAQ: STTK), a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of patients with cancer and autoimmune disease, has announced the pricing of a registered offering of 4,651,163 shares of common stock, par value US$0.0001 (the common stock), at a price of US$6.45 per share, which is priced at the closing price on Nasdaq for the common stock on December 20, 2023. In addition to the shares sold in the registered offering, Shattuck announced the concurrent pricing of a private placement of pre-funded warrants to purchase 3,100,823 shares of common stock at a purchase price of US$6.4499 per pre-funded warrant, which represents the per share offering price for the common stock less the US$0.0001 per share exercise price for each pre-funded warrant. The gross proceeds to Shattuck from the registered offering and private placement, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately US$50 million. The offering is expected to close on or about December 26, 2023, subject to customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partner Nathan Ajiashvili and Orange County partner Shayne Kennedy, with New York associates Danny Shulman, Jie Lin Nai, and Los Angeles associate Ilan Lavian.