Rani Therapeutics Holdings, Inc. Announces Pricing of $10.0 Million Registered Direct Offering
Rani Therapeutics Holdings (Nasdaq: RANI), a clinical-stage biotherapeutics company, has announced a $10.0 million registered direct offering. The offering includes 2,800,000 shares of Class A common stock and pre-funded warrants for 446,753 shares, along with Series A and B common warrants. Each share or pre-funded warrant is sold with one Series A and one Series B warrant at $3.08. The warrants have an exercise price of $3.08 and will be exercisable after 6 months. Series A warrants expire in 18 months, while Series B warrants expire in 5.5 years. Maxim Group is the sole placement agent. The offering is expected to close around July 23, 2024, subject to customary conditions.
Rani Therapeutics Holdings (Nasdaq: RANI), un'azienda biofarmaceutica in fase clinica, ha annunciato un . L'emissione include 2.800.000 azioni comuni di Classe A e warant prefinanziati per 446.753 azioni, insieme a warant comuni di Serie A e B. Ogni azione o warant prefinanziato viene venduto con un warant di Serie A e uno di Serie B a 3,08 dollari. I warant hanno un prezzo di esercizio di 3,08 dollari e saranno esercitabili dopo 6 mesi. I warant di Serie A scadono in 18 mesi, mentre i warant di Serie B scadono in 5,5 anni. Maxim Group è l'unico agente di collocamento. Si prevede che l'emissione si chiuda intorno al 23 luglio 2024, soggetta a condizioni consuete.
Rani Therapeutics Holdings (Nasdaq: RANI), una empresa biofarmacéutica en fase clínica, ha anunciado una oferta directa registrada de 10,0 millones de dólares. La oferta incluye 2.800.000 acciones ordinarias de Clase A y warrants prefinanciados para 446.753 acciones, junto con warrants ordinarios de las Series A y B. Cada acción o warrant prefinanciado se vende con un warrant de la Serie A y uno de la Serie B a 3,08 dólares. Los warrants tienen un precio de ejercicio de 3,08 dólares y serán ejercitables después de 6 meses. Los warrants de la Serie A expiran en 18 meses, mientras que los de la Serie B expiran en 5,5 años. Maxim Group es el único agente colocador. Se espera que la oferta cierre alrededor del 23 de julio de 2024, sujeto a condiciones habituales.
Rani Therapeutics Holdings (Nasdaq: RANI), 임상 단계의 생물 의약품 회사,가 1000만 달러의 등록된 직접 공급을 발표했습니다. 이 공급에는 280만 주의 A 클래스 보통주와 446,753 주의 미리 자금 조달된 워런트가 포함되며, A 및 B 시리즈 보통 워런트도 포함됩니다. 각 주식 또는 미리 자금 조달된 워런트는 3.08달러에 A 시리즈와 B 시리즈 워런트 각각 하나와 함께 판매됩니다. 워런트의 행사 가격은 3.08달러이며, 6개월 후에 행사할 수 있습니다. A 시리즈 워런트는 18개월 후에 만료되며, B 시리즈 워런트는 5.5년 후에 만료됩니다. Maxim Group은 단독 배치 대리인입니다. 이 공급은 2024년 7월 23일 경에 마감될 것으로 예상되며, 일반적인 조건에 따릅니다.
Rani Therapeutics Holdings (Nasdaq: RANI), une entreprise de biothérapeutiques en phase clinique, a annoncé une offre directe enregistrée de 10,0 millions de dollars. L'offre comprend 2 800 000 actions ordinaires de classe A et des warrants préfinancés pour 446 753 actions, ainsi que des warrants ordinaires de séries A et B. Chaque action ou warrant préfinancé est vendu avec un warrant de série A et un warrant de série B au prix de 3,08 dollars. Les warrants ont un prix d'exercice de 3,08 dollars et pourront être exercés après 6 mois. Les warrants de série A expirent dans 18 mois, tandis que ceux de série B expirent dans 5,5 ans. Maxim Group est l'agent de placement exclusif. L'offre devrait se clôturer aux alentours du 23 juillet 2024, sous réserve de conditions habituelles.
Rani Therapeutics Holdings (Nasdaq: RANI), ein biopharmazeutisches Unternehmen in der klinischen Phase, hat eine registrierte Direktplatzierung über 10,0 Millionen Dollar angekündigt. Die Platzierung umfasst 2.800.000 Aktien der Klasse A und vorfinanzierte Warrants für 446.753 Aktien sowie Warrants der Serien A und B. Jede Aktie oder vorfinanzierte Warrants werden zusammen mit einem Warrants der Serie A und einem Warrants der Serie B zum Preis von 3,08 Dollar verkauft. Die Warrants haben einen Ausübungspreis von 3,08 Dollar und können nach 6 Monaten ausgeübt werden. Die Warrants der Serie A laufen in 18 Monaten aus, während die Warrants der Serie B in 5,5 Jahren auslaufen. Maxim Group ist der alleinige Platzierungsagent. Es wird erwartet, dass die Platzierung etwa am 23. Juli 2024 abgeschlossen wird, vorbehaltlich der üblichen Bedingungen.
- Secured $10.0 million in gross proceeds through registered direct offering
- Offering includes both common stock and warrants, providing flexibility for investors
- Warrants have the same exercise price as the offering price, potentially indicating confidence in future stock performance
- Potential dilution of existing shareholders' ownership
- Offering price of $3.08 may be at a discount to current market price, potentially impacting stock value
- Additional shares from warrant exercises could further dilute ownership in the future
The registered direct offering announced by Rani Therapeutics Holdings, Inc. is pivotal as it directly impacts the company's financial stability and future operations. Raising $10 million through the sale of common stock and warrants suggests that Rani Therapeutics is looking to bolster its cash reserves, potentially to fund ongoing clinical trials or other operational expenses. The pricing at
From a market perspective, this offering highlights a strategic move to secure significant institutional investment. The involvement of a single institutional investor could indicate targeted confidence in Rani Therapeutics' business model and pipeline. The structured deal with pre-funded warrants and Series A and B common warrants creates a layered security for investors, balancing immediate funding needs with potential future equity conversion. This could signal to the market a well-considered approach to financing, aimed at minimizing risk while ensuring flexibility. Moreover, the choice of Maxim Group LLC as the sole placement agent further underscores the company's intent to leverage expert financial advisement to optimize the offering's success. For retail investors, understanding the nuanced structure of this offering is crucial, as it might suggest underlying strengths or potential future movements in share prices connected to milestones in Rani's biotherapeutic developments.
SAN JOSE, Calif., July 22, 2024 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it has entered into a securities purchase agreement with a single institutional investor for the purchase and sale of 2,800,000 shares of Rani Therapeutics’ Class A common stock (the “Common Stock”) and pre-funded warrants to purchase 446,753 shares of Common Stock, together with Series A common warrants to purchase up to an aggregate of 3,246,753 shares of Common Stock and Series B common warrants to purchase up to an aggregate of 3,246,753 shares of Common Stock, in a registered direct offering. Each share of Common Stock and pre-funded warrant is being sold together with one Series A common warrant to purchase one share of Common Stock and one Series B common warrant to purchase one share of Common Stock at a combined purchase price of
Maxim Group LLC is acting as the sole placement agent for the offering.
The offering is expected to close on or about July 23, 2024, subject to satisfaction of customary closing conditions. The gross proceeds to the Rani Therapeutics from this offering are expected to be approximately
The securities in the registered direct offering are being offered and sold by Rani pursuant to a "shelf" registration statement on Form S-3 (File No. 333-266444) which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 10, 2022. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Rani Therapeutics
Rani Therapeutics is a clinical-stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics and drugs. Rani has developed the RaniPill® capsule, which is a novel, proprietary and patented platform technology, intended to replace subcutaneous injection or intravenous infusion of biologics and drugs with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using RaniPill® capsule technology.
Investor Contact:
investors@ranitherapeutics.com
Media Contact:
media@ranitherapeutics.com
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