RAPT Therapeutics Announces Proposed Public Offering of Common Stock
RAPT Therapeutics, Inc. (Nasdaq: RAPT) has announced a public offering of $125 million in common stock, with an option for underwriters to purchase an additional $18.75 million. The offering is contingent on market conditions and is governed by a previously filed shelf registration statement with the SEC. J.P. Morgan, SVB Leerink, and Piper Sandler are the lead managers for the offering. This fundraising aims to support RAPT's development of oral therapies targeting significant unmet needs in oncology and inflammatory diseases.
- Intended use of funds to support the development of unique drug candidates FLX475 and RPT193.
- Potential for growth in oncology and inflammatory disease markets.
- Dilution risk for existing shareholders due to the new stock offering.
- Market uncertainties may affect the completion of the offering.
SOUTH SAN FRANCISCO, Calif., June 14, 2021 (GLOBE NEWSWIRE) -- RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases, today announced that it has commenced an underwritten public offering of
J.P. Morgan, SVB Leerink and Piper Sandler are acting as joint lead book-running managers for the proposed offering. Cantor is acting as book-running manager for the proposed offering.
The offering is being made pursuant to a shelf registration statement, including a base prospectus, filed by RAPT with the Securities and Exchange Commission (SEC), which was declared effective by the SEC on November 16, 2020. The offering may be made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. When available, electronic copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmorgan.com or by telephone at (866) 803-9204; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by email at syndicate@svbleerink.com or by telephone at (800) 808-7525, ext. 6105; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus Department, by email at prospectus@psc.com or by telephone at (800) 747-3924.
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 the registration or qualification under the securities laws of any such state or jurisdiction.
About RAPT Therapeutics, Inc.
RAPT Therapeutics is a clinical stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases. Utilizing its proprietary discovery and development engine, RAPT is developing highly selective small molecules designed to modulate the critical immune drivers underlying these diseases. RAPT has discovered and advanced two unique drug candidates, FLX475 and RPT193, each targeting C-C motif chemokine receptor 4 (CCR4), for the treatment of cancer and inflammation, respectively. RAPT is also pursuing a range of targets that are in the discovery stage of development.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to RAPT’s expectations regarding the completion, timing and size of the proposed public offering. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. RAPT cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions, the risk that the proposed public offering will not be consummated on the terms or in the amounts contemplated or otherwise, and the satisfaction of customary closing conditions related to the proposed public offering. Risks and uncertainties relating to RAPT and its business can be found in the “Risk Factors” section of RAPT’s Form 10-Q for the quarter ended March 31, 2021, filed with the SEC on May 11, 2021, and in the preliminary prospectus supplement related to the proposed public offering filed with the SEC on June 14, 2021. RAPT undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in RAPT’s expectations, except as required by law.
Investor Contact:
Sylvia Wheeler
swheeler@wheelhouselsa.com
Media Contact:
Aljanae Reynolds
areynolds@wheelhouselsa.com
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