Cabaletta Prices Share Sale Of 51.73M Shares at $2.90 to Fund Autoimmune Therapy Development

Cabaletta Bio, Inc. ("Cabaletta" or the "Company") (NASDAQ:CABA), a clinical-stage biotechnology company focused on developing and launching curative targeted cell therapies designed specifically for patients with autoimmune diseases, announced today the pricing of an underwritten offering of 51,725,000 shares of common stock. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $150 million. The offering is expected to close on or about May 5, 2026, subject to the satisfaction of customary closing conditions. The financing included participation from Bain Capital Life Sciences, Adage Capital Management, Cormorant Asset Management and other existing investors, multiple new mutual and sovereign wealth funds and Eli Lilly and Company.

The purchase price for the common stock is $2.90 per share, which represents the at-the-market price under Nasdaq rules. All of the shares in the offering are being sold by Cabaletta.

TD Cowen, Guggenheim Securities, and Cantor are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.