Erasca, Inc. 8-K

What Happened Erasca, Inc. filed an 8-K (Jan 22, 2026) disclosing an underwriting agreement dated January 21, 2026, to sell 22,500,000 shares of common stock at $10.00 per share. The underwriters — J.P. Morgan, Morgan Stanley, Jefferies and Evercore (representatives) — agreed to buy the shares from the company at $9.40 per share. The offering is expected to close on January 23, 2026, subject to customary closing conditions.

Key Details

• Shares offered: 22,500,000 common shares at $10.00 per share (gross proceeds $225.0M).
• Underwriter purchase price: $9.40 per share.
• Overallotment option: 30-day option to buy up to 3,375,000 additional shares (15% of the base offering).
• Estimated net proceeds: ~ $211.0 million (or ~ $242.7 million if option exercised in full), after underwriting discounts/commissions and estimated offering expenses.
• Offering made under the company’s Form S-3 shelf (effective Aug 22, 2025); Latham & Watkins provided legal opinion.

Why It Matters This financing will raise cash that Erasca can use for operations, clinical development, or other corporate purposes (the filing did not specify exact uses). The size of the raise and potential dilution (base offering plus a possible 15% overallotment) are material for existing shareholders to consider when assessing ownership percentage and short‑term share supply. The offering is subject to customary closing conditions and may affect the company’s share count and liquidity once completed.