Under the terms of the Sales Agreement, Q32 Bio will determine the parameters for the sale of shares, including the number of shares to be sold and the timing of the sales. The sales agent will sell the shares by any method deemed appropriate, including transactions on The Nasdaq Capital Market. The company is not obligated to sell any shares under this agreement, and either party may suspend or terminate the offering upon notice.
The company will pay Cantor Fitzgerald a cash commission of 3.0% of the gross proceeds from the sale of the shares. Additionally, Q32 Bio has agreed to provide customary indemnification and contribution rights to the sales agent and will reimburse certain expenses incurred in connection with the Sales Agreement. This move is seen as a strategic effort to bolster the company's liquidity and financial flexibility, allowing it to fund ongoing operations and potential growth initiatives.