RAPT Therapeutics Announces $150 Million Private Placement
RAPT Therapeutics has announced a $150 million private placement through the sale of 100,000,000 shares of common stock at $0.85 per share and pre-funded warrants for up to 76,452,000 shares at $0.8499 per warrant. The placement, expected to close around December 27, 2024, was led by The Column Group and TCGX, with participation from several prominent investors including BVF Partners LP, Deep Track Capital, and others.
The pre-funded warrants will have an exercise price of $0.0001 per share and will be immediately exercisable. The proceeds will fund research and development of the company's pipeline and general corporate purposes. The company has agreed to file a registration statement for the resale of the shares and warrant-underlying shares.
RAPT Therapeutics ha annunciato un collocamento privato di 150 milioni di dollari attraverso la vendita di 100.000.000 azioni ordinarie a 0,85 dollari per azione e di warrant pre-finanziati per un massimo di 76.452.000 azioni a 0,8499 dollari per warrant. Il collocamento, previsto per chiudere intorno al 27 dicembre 2024, è stato guidato da The Column Group e TCGX, con la partecipazione di diversi investitori di spicco tra cui BVF Partners LP, Deep Track Capital e altri.
I warrant pre-finanziati avranno un prezzo di esercizio di 0,0001 dollari per azione e saranno immediatamente esercitabili. I proventi serviranno a finanziare la ricerca e lo sviluppo della pipeline dell'azienda e per scopi aziendali generali. L'azienda ha concordato di presentare una dichiarazione di registrazione per la rivendita delle azioni e delle azioni sottostanti ai warrant.
RAPT Therapeutics ha anunciado un colocación privada de 150 millones de dólares a través de la venta de 100.000.000 de acciones ordinarias a 0,85 dólares por acción y warrants prefinanciados por hasta 76.452.000 acciones a 0,8499 dólares por warrant. La colocación, que se espera cierre alrededor del 27 de diciembre de 2024, fue liderada por The Column Group y TCGX, con la participación de varios inversores prominentes, incluidos BVF Partners LP, Deep Track Capital y otros.
Los warrants prefinanciados tendrán un precio de ejercicio de 0,0001 dólares por acción y serán inmediatamente ejercitables. Los ingresos se destinarán a financiar la investigación y el desarrollo de la pipeline de la compañía y a propósitos corporativos generales. La empresa ha acordado presentar una declaración de registro para la reventa de las acciones y de las acciones subyacentes a los warrants.
RAPT Therapeutics는 1억 5천만 달러의 사모펀드 조달을 발표하였으며, 1주당 0.85달러에 100,000,000주의 보통주를 판매하고, 0.8499달러의 가격으로 최대 76,452,000주에 대한 사전 자금 보증금을 발행합니다. 이번 조달은 2024년 12월 27일경 마무리될 예정이며, The Column Group와 TCGX가 주도하고 BVF Partners LP, Deep Track Capital 등 여러 저명한 투자자들이 참여하였습니다.
사전 자금 보증금은 주당 0.0001달러의 행사가격을 가지며 즉시 행사할 수 있습니다. 수익금은 회사의 연구개발과 일반 기업 용도로 사용될 예정입니다. 회사는 이 주식과 보증금으로 인한 주식의 재판매를 위한 등록신청서를 제출하기로 합의하였습니다.
RAPT Therapeutics a annoncé un placement privé de 150 millions de dollars à travers la vente de 100.000.000 d'actions ordinaires au prix de 0,85 dollar par action et d'options préfinancées pour un maximum de 76.452.000 actions au prix de 0,8499 dollar par option. Le placement, qui devrait se clôturer aux alentours du 27 décembre 2024, a été dirigé par The Column Group et TCGX, avec la participation de plusieurs investisseurs de premier plan, dont BVF Partners LP, Deep Track Capital et d'autres.
Les options préfinancées auront un prix d'exercice de 0,0001 dollar par action et seront immédiatement exerçables. Les recettes serviront à financer la recherche et le développement du pipeline de l'entreprise et à des fins corporatives générales. L'entreprise a accepté de déposer une déclaration d'enregistrement pour la revente des actions et des actions sous-jacentes aux options.
RAPT Therapeutics hat eine Private Placement in Höhe von 150 Millionen Dollar angekündigt, bei dem 100.000.000 Stammaktien zu je 0,85 Dollar pro Aktie und vorfinanzierte Kaufwarrants für bis zu 76.452.000 Aktien zu je 0,8499 Dollar pro Warrant verkauft werden. Die Platzierung, die voraussichtlich um den 27. Dezember 2024 abgeschlossen sein wird, wurde von The Column Group und TCGX geleitet, mit Beteiligung mehrerer prominenter Investoren, darunter BVF Partners LP, Deep Track Capital und andere.
Die vorfinanzierten Warrants werden einen Ausübungspreis von 0,0001 Dollar pro Aktie haben und sind sofort ausübbar. Die Erlöse werden zur Finanzierung der Forschung und Entwicklung des Unternehmens sowie für allgemeine Unternehmenszwecke verwendet. Das Unternehmen hat zugestimmt, einen Registrierungsantrag für den Wiederverkauf der Aktien und der warrant-basierten Aktien einzureichen.
- Secured significant funding of $150 million through private placement
- Strong investor participation from multiple renowned healthcare investors
- Immediate access to capital for R&D pipeline advancement
- Significant shareholder dilution due to issuance of 176.45 million new shares/warrants
- Share price of $0.85 indicates potential discount to market value
- Requires registration statement filing for resale, adding regulatory complexity
Insights
This
The structure, combining common stock and pre-funded warrants, is designed to accommodate investors with ownership limitations while providing immediate capital access. The nearly-zero exercise price (
However, the massive share issuance - 176.45 million new shares between direct stock and warrants - represents substantial dilution for current shareholders. This capital raise essentially resets the company's valuation metrics and ownership structure, though it provides important resources for advancing their immunology-focused drug development programs.
From a clinical development perspective, this substantial capital infusion is strategically timed to support RAPT's inflammatory disease pipeline. The company's ability to attract top-tier biotech investors like Deep Track Capital and RTW Investments suggests confidence in their clinical programs and technology platform. The participation of both new and existing investors indicates strong institutional support for RAPT's scientific approach and clinical development strategy.
The financing provides essential resources for advancing their pipeline through critical clinical milestones. For the average investor, think of this as fueling the engine that drives drug development - without adequate funding, promising therapies can't progress through the expensive clinical trial process. While the dilution is significant, it's a common trade-off in biotech where substantial capital is needed to bring innovative treatments to market.
SOUTH SAN FRANCISCO, Calif., Dec. 23, 2024 (GLOBE NEWSWIRE) -- RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage, immunology-based therapeutics company focused on discovering, developing and commercializing novel therapies for patients with significant unmet needs in inflammatory diseases, today announced that it has entered into a securities purchase agreement with a group of accredited investors for the private placement of (i) 100,000,000 shares of common stock at a purchase price of
The private placement was led by The Column Group and TCGX, with participation by new and existing investors including BVF Partners LP, Deep Track Capital, Foresite Capital, Medicxi, OrbiMed, Perceptive Advisors, Redmile Group and RTW Investments.
Net proceeds from the private placement are expected to fund the research and development of the Company’s pipeline and for general corporate purposes.
The securities being issued and sold in the private placement, including the shares of common stock underlying the pre-funded warrants, have not been registered under the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Concurrently with the execution of the securities purchase agreement, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock sold in the private placement and the shares of common stock underlying the pre-funded warrants sold in the private placement. 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 the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.
Leerink Partners is acting as sole placement agent in connection with the private placement.
About RAPT Therapeutics, Inc.
RAPT Therapeutics is a clinical-stage, immunology-based therapeutics company focused on discovering, developing and commercializing therapies for patients with significant unmet needs in inflammatory diseases. The company leverages its proprietary discovery and development platform to advance both biologics and selective small molecules aimed at normalizing critical immune drivers underlying these conditions.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimates,” “expects,” “will” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future performances or achievements expressed or implied by the forward-looking statements. These forward-looking statements include statements regarding the closing of the private placement and anticipated use of proceeds. Each of these statements is based only on current information, assumptions and expectations that are inherently subject to change and involve a number of risks and uncertainties. Detailed information regarding risk factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in RAPT’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 and subsequent filings made by RAPT with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. RAPT disclaims any obligation to update these forward-looking statements, except as required by law.
Investor Contact:
Sylvia Wheeler
swheeler@wheelhouselsa.com
Media Contact:
Aljanae Reynolds
areynolds@wheelhouselsa.com
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