August 13, 2021
Aug. 13, 2021 (GLOBE NEWSWIRE) — Rani Therapeutics Holdings, Inc. (Nasdaq:RANI), a clinical stage biotherapeutics company today announced the final closing of its initial public offering of 7,666,667 shares of its Class A common stock, which includes 1,000,000 shares sold pursuant to the full exercise by the underwriters of their option to purchase additional shares, at a public offering price of $11.00 per share. The offering of 6,666,667 shares closed on August 3, 2021. The closing of the underwriters’ partial exercise of 500,000 shares occurred on August 11, 2021, and the closing of the underwriters’ exercise of their remaining option of 500,000 shares occurred on August 13, 2021. The gross proceeds to Rani from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $84.3 million. All of the shares in the offering were sold by Rani. Rani’s Class A common stock began trading on the Nasdaq Global Market on July 30, 2021 under the ticker symbol “RANI.” FLG Managing Partner Laureen DeBuono advises Rani on the board.
Full press release is here.