Bolt Biotherapeutics Announces Acquisition of Prana Therapies and $120 Million Private Placement

Bolt Biotherapeutics, Inc. has announced the acquisition of Prana Therapies, Inc. through a stock-for-stock reverse merger, with Prana's equity exchanged for Bolt common and Series D non-voting convertible preferred stock. Concurrently, Bolt has secured a $120 million private placement to extend its cash runway into 2028, which includes warrants potentially worth an additional $60 million. Dr. Sheila Gujrathi, co-founder and former CEO of Prana, has been appointed as Bolt's Chief Strategy Officer and joined its board of directors.