Crinetics Pharmaceuticals Inc

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On February 27, 2024, the Company entered into a stock purchase agreement, or the Stock Purchase Agreement, with certain institutional accredited investors named therein, or the Purchasers, pursuant to which the Company agreed to issue and sell to the Purchasers in a private placement an aggregate of 8,333,334 shares of its common stock at a price of $42.00 per share for aggregate gross proceeds of approximately $350 million, before deducting offering expenses payable by the Company, or the Private Placement. The Private Placement closed on March 1, 2024. Based in part upon the representations of the Purchasers in the Stock Purchase Agreement, the offering and sale of the shares in the Private Placement was made in reliance on the exemption afforded by Regulation D under the Securities Act and corresponding provisions of state securities or “blue sky” laws. On March 19, 2024, the Company registered the resale of the shares issued and sold in the Private Placement, pursuant to the Registration Rights Agreement entered into with the Purchasers, dated February 27, 2024.