Prana Therapies files Form D for $40.2 million equity offering

Prana Therapies, Inc., a Delaware corporation formed in 2021 and based in Encinitas, California, filed a Form D notice with the Securities and Exchange Commission disclosing an exempt securities offering. The total offering amount was $40,226,932, and the same amount had already been sold, leaving nothing remaining to be sold.¹ That figure includes conversion of $226,935 in simple agreements for future equity.¹

The date of first sale was listed as November 25, 2025.¹ The securities offered included equity, an option, warrant or other right to acquire another security, and a security to be acquired upon exercise of such an option, warrant or right.¹ The company claimed the Rule 506(b) exemption under Regulation D.¹

A total of nine investors had already put money into the offering.¹ The filing reported no sales commissions or finders' fees.¹ Prana Therapies identified its industry as biotechnology within the health care sector.¹

Listed executive officers and directors include Ben Auspitz, Alexis Borisy, and Sheila Gujrathi, M.D., who holds both executive officer and director roles, along with executive officers Hector Ortega and Ryan Sullivan.¹

The Form D was signed by Sheila Gujrathi, M.D., in her capacity as Chief Executive Officer, dated August 7, 2026.¹ The filing stated the offering was not made in connection with a business combination transaction such as a merger or acquisition.¹