Rapport Therapeutics prices $380 million of equity and convertible notes
Rapport Therapeutics announced the pricing of a multi‑tranche capital raise that includes $175 million of common stock at $21 per share, $25 million of pre‑funded warrants at $20.999 each, $150 million of 2.25% convertible senior notes due 2032, and a $30 million private placement of common stock at the same price. The offerings are being managed by Morgan Stanley, Leerink Partners and Evercore ISI and are expected to close around October 30, 2026. Proceeds will be used to fund ongoing and planned clinical trials for RAP‑219, other research and development, and working capital, and the company believes the cash will support operations through the end of 2029.
Why it matters
The company expects net proceeds of roughly $187.5 million from the common stock, about $28.2 million from the private placement, and around $145 million from the notes after expenses, providing funding for its pipeline and extending its cash runway to 2029 (the company said).
Key facts
- 1The public offering of common stock is priced at $21.00 per share for a total of approximately $175 million. investing.com
- 2Pre‑funded warrants are priced at $20.999 per warrant for a total of about $25 million. investing.com
- 3Convertible senior notes carry a 2.25% coupon, mature on December 1, 2032, and total $150 million in principal. investing.com
- 4A private placement will sell roughly $30 million of common stock at the same $21.00 price. investing.com
- 5The company expects net proceeds of about $187.5 million from the common stock, about $28.2 million from the private placement, and roughly $145 million from the notes after deducting discounts and expenses. investing.com
- 6The combined financing is expected to close on or about October 30, 2026. investing.com
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.