Categories: News

Rani Therapeutics Holdings, Inc. Announces Pricing of $10.0 Million Registered Direct Offering and Cancellation of Certain Existing Warrants

FacebookFacebookTwitterTwitterEmailEmailLinkedInLinkedInWhatsAppWhatsAppMessengerMessengerFlipboardFlipboardGmailGmailTelegramTelegramShareShare

SAN JOSE, Calif., Oct. 15, 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 3,000,000 shares of Rani Therapeutics’ Class A common stock (the “Common Stock”) and pre-funded warrants to purchase 333,333 shares of Common Stock, together with Series C common warrants to purchase up to an aggregate of 3,333,333 shares of Common Stock, in a registered direct offering. Each share of Common Stock (or pre-funded warrant) is being sold together with one Series C common warrant at a combined purchase price of $3.00. The Series C common warrants will have an exercise price of $3.00 per share and will expire 5 years from the date of issuance.

The Company has also entered into an agreement with the investor to cancel all outstanding Series A common warrants to purchase an aggregate of 3,246,753 shares of the Company’s common stock, previously issued on July 22, 2024. Pursuant to the agreement, the Series A warrants will be canceled and no-longer exercisable.

Maxim Group LLC is acting as the sole placement agent for the offering.

The offering is expected to close on or about October 16, 2024, subject to satisfaction of customary closing conditions. The gross proceeds to Rani Therapeutics from this offering are expected to be approximately $10.0 million, before deducting placement agent fees and other offering expenses, excluding the proceeds, if any, from the exercise of the pre-funded warrants and the Series C common warrants.

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

Staff

Recent Posts

BLUE & CO., LLC PROVIDES NOTICE OF DATA EVENT

CARMEL, Ind., July 3, 2025 /PRNewswire/ -- Blue & Co., LLC ("Blue") is a financial…

2 hours ago

Dr. Aubrey de Grey Brings Cutting-Edge Science to RAADfest 2025: LEV Foundation Partners with Coalition for Radical Life Extension

Renowned biogerontologist Dr. Aubrey de Grey to curate specialized scientific programming at world's leading longevity…

2 hours ago

NervGen Strengthens Board Leadership to Accelerate Clinical and Corporate Growth

Dr. Adam Rogers appointed chair as company advances toward key milestones following positive topline chronic…

3 hours ago

ScienceSoft Raises the Bar for AI Voice Scheduling in Healthcare

MCKINNEY, Texas--(BUSINESS WIRE)--#AI--Human-Like, Real-Time AI Scheduler launched by ScienceSoft ScienceSoft has introduced a HIPAA-compliant AI…

5 hours ago

New Podcast “Spreading the Good BUZZ” Hosted by Josh and Heidi Case Launches July 7th with Explosive Global Reach and a Mission to Transform Lives

Through Hope and Community in Recovery, Sober.Buzz along with @SoberBuzzToken on Instagram are Impacting and…

8 hours ago

Services PMI® at 50.8%; June 2025 Services ISM® Report On Business®

Business Activity Index at 54.2%; New Orders Index at 51.3%; Employment Index at 47.2%; Supplier…

8 hours ago