Rain Therapeutics Announces Pricing of Initial Public Offering
Rain Therapeutics Inc. has announced the pricing of its initial public offering (IPO) of 7,352,941 shares at $17.00 per share, aiming for gross proceeds of approximately $125.0 million. The shares are set to trade on the Nasdaq under the ticker symbol RAIN starting April 23, 2021. A 30-day option for underwriters to purchase an additional 1,102,941 shares at the IPO price is also provided. The offering is expected to close on April 27, 2021, subject to standard closing conditions.
- IPO priced at $17.00 per share, raising approximately $125.0 million.
- Shares to trade on Nasdaq under symbol RAIN, providing visibility.
- Inclusion of a 30-day underwriter option for additional shares supports demand.
- Potential dilution of shares due to the additional underwriter option.
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NEWARK, Calif., April 22, 2021 (GLOBE NEWSWIRE) -- Rain Therapeutics Inc. (“Rain”), a clinical-stage company developing precision oncology therapeutics, today announced the pricing of its initial public offering of 7,352,941 shares of common stock at a public offering price of
Goldman Sachs & Co. LLC, Citigroup, Piper Sandler and Guggenheim Securities, LLC are acting as joint book-running managers for the offering.
The registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on April 22, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (800) 831-9146, or by email at prospectus@citi.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Rain Therapeutics Inc.
Rain Therapeutics Inc. is a clinical-stage precision oncology company developing therapies that target oncogenic drivers for which it is able to genetically select patients it believes will most likely benefit. This approach includes using a tumor-agnostic strategy to select patients based on their tumors’ underlying genetics rather than histology. Rain’s lead product candidate, RAIN-32 (milademetan, formerly known as DS-3032), is a small molecule, oral inhibitor of MDM2, which is oncogenic in numerous cancers. In addition to RAIN-32, Rain is also developing a preclinical program that is focused on inducing synthetic lethality in cancer cells by inhibiting RAD52.
Media Contact:
Grace Fotiades
LifeSci Communications
+1.646.876.5026
gfotiades@lifescicomms.com
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