MapLight Therapeutics, Inc. filed a current report on Form 8-K on August 13, 2026, disclosing a private placement of common stock and pre-funded warrants expected to generate approximately $150.0 million in gross proceeds.

Key Highlights

  • Gross proceeds: The company anticipates receiving approximately $150.0 million from the private placement, before deducting placement agent fees and estimated offering expenses.
  • Shares offered: 9,197,887 shares of voting common stock at a purchase price of $11.38 per share.
  • Pre-funded warrants: Pre-funded warrants to purchase 3,983,168 shares of common stock are being issued to certain purchasers in lieu of shares, at the purchase price minus $0.0001 per underlying share.
  • Cash position: According to a press release furnished with the filing, cash, cash equivalents and investments were $351.3 million as of June 30, 2026.
  • Registration deadline: The company agreed to file one or more resale registration statements with the SEC within 30 days after closing.
  • Placement agents: Morgan Stanley & Co. LLC, Jefferies LLC, Leerink Partners LLC and Stifel, Nicolaus & Company, Incorporated are serving as placement agents.

MapLight Therapeutics Private Placement Terms and Registration Obligations

According to the filing, MapLight Therapeutics (NASDAQ:MPLT) entered into a Securities Purchase Agreement on August 13, 2026 with certain institutional investors in a private placement transaction. The company agreed to sell 9,197,887 shares of its voting common stock, par value $0.0001 per share, at $11.38 per share. Certain purchasers will receive pre-funded warrants to purchase 3,983,168 shares of common stock in lieu of shares, priced at the purchase price minus $0.0001 per underlying share. The pre-funded warrants carry a per share exercise price of $0.0001 and will not expire until exercised in full.

The filing also disclosed a Registration Rights Agreement entered into on the same date. Under that agreement, the company is required to file one or more resale registration statements with the SEC within 30 days after the closing. If the registration statement is not filed by the filing deadline or not declared effective by the applicable effectiveness deadline, the company has agreed to make pro rata liquidated damages payments to each purchaser equal to 1.0% of the aggregate amount paid by that purchaser for its registrable securities per 30-day period or pro rata portion thereof, subject to certain caps and limited exceptions.

The private placement is being conducted under Section 4(a)(2) of the Securities Act of 1933 and corresponding state securities laws, as an unregistered sale not involving general solicitation or advertising, the filing stated. The company also disclosed that it issued a press release on August 13, 2026 announcing its financial results for the second quarter ended June 30, 2026, furnished as Exhibit 99.1, and a separate press release regarding the private placement financing, furnished as Exhibit 99.2, which included the preliminary cash, cash equivalents and investments figure of $351.3 million as of June 30, 2026.

What Was Disclosed

MapLight Therapeutics reported entering into a $150.0 million private placement on August 13, 2026, covering the sale of common stock and pre-funded warrants to institutional investors, along with an accompanying registration rights agreement requiring resale registration within 30 days of closing.