RAPT Therapeutics Pricing a Major Public Offering of Shares
RAPT Therapeutics Schedules Public Offering of Common Stock
RAPT Therapeutics, Inc. (NASDAQ:RAPT) has announced the pricing of a significant public offering of its common stock at $30.00 per share. This move aligns with the company’s dedication to advancing treatments for patients experiencing inflammatory and immunological diseases. The offering consists of a total of 8,333,334 shares, with an additional 1,250,000 shares available for underwriters to purchase within 30 days of the offering.
Financial Details of the Offering
The gross proceeds from this public offering are anticipated to reach around $250 million, before the deduction of any related expenses such as underwriting discounts and commissions. This substantial infusion of capital is poised to bolster RAPT's ongoing efforts in the arena of biopharmaceutical innovations, supporting their clinical trials and development of groundbreaking therapies aimed at enhancing the quality of life for patients suffering from immune-related conditions.
About the Underwriters
Leading the offering are prominent financial firms including Leerink Partners, TD Cowen, Guggenheim Securities, Wells Fargo Securities, and LifeSci Capital. These institutions are taking responsibility for the execution of the offering, and their expertise in capital markets will be beneficial for RAPT as it navigates this public fundraising endeavor.
Regulatory Aspect of the Offering
The current offering is being carried out under a shelf registration statement, which was recently declared effective by the Securities and Exchange Commission. This regulatory process ensures that RAPT can efficiently access the public markets, enhancing its capability to secure funds needed for its innovative clinical programs.
In-Depth on RAPT’s Mission
RAPT Therapeutics is at the forefront of discovering and commercializing novel therapies tailored for individuals battling severe inflammatory diseases. Their approach employs proprietary methods to influence immune system responses, showcasing their commitment to translational medicine that strives to create real-world impacts for patients.
Company Contact and Future Efforts
Investors and interested parties can reach out for further inquiries:
RAPT Investor Contact:
Sylvia Wheeler
Email: swheeler@wheelhouselsa.com
RAPT Media Contact:
Aljanae Reynolds
Email: areynolds@wheelhouselsa.com
Frequently Asked Questions
What does the public offering entail for RAPT?
The public offering consists of 8.33 million shares priced at $30 per share, aiming for a total of $250 million in gross proceeds.
Who are the underwriters for this offering?
Underwriters include notable firms such as Leerink Partners, TD Cowen, Guggenheim Securities, Wells Fargo Securities, and LifeSci Capital.
What is the intended use of the funds raised?
Funds raised will primarily support RAPT's clinical trials and the development of novel therapies targeting inflammatory and immunological diseases.
Is the public offering confirmed to close soon?
The offering is expected to close shortly, subject to customary conditions, with the company positioned to utilize the proceeds effectively.
How can investors stay updated on RAPT's progress?
Investors can reach out via the provided contact emails or follow RAPT’s updates through official press releases.
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