Rapport Announces Proposed Public Offerings of Common Stock and Convertible Notes as well as Concurrent Private Placement
Rapport Therapeutics launched a dual capital raise: a $200M underwritten public offering of common stock and a $150M convertible senior notes offering due 2032, plus a concurrent private placement with a single investor priced off the equity deal. Underwriters hold 30-day options for up to an additional $30M of shares and $22.5M of notes, meaning total raise could exceed $400M if over-allotments are exercised. Proceeds fund ongoing and planned clinical trials of lead asset RAP-219 (epilepsy, bipolar mania), plus R&D, working capital, and possible in-licensing or acquisitions.
Key figures
- Shares Offered
- $200.0 million of common stock
- Notes maturity
- December 1, 2032
- Redemption threshold
- 130% of conversion price on or after December 6, 2030
- Notes overallotment option
- $22.5 million
- Convertible notes principal
- $150.0 million
- Equity overallotment option
- $30.0 million
AI analysis
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