Rapport Announces Pricing of Underwritten Offerings of Common Stock and Pre-Funded Warrants and Convertible Notes and Concurrent Private Placement
Rapport Therapeutics priced roughly $355 million in gross capital: a $175M common stock offering at $21.00 per share plus $25M of pre-funded warrants, $150M of 2.25% convertible senior notes due 2032, and a $30M concurrent private placement at the same offering price. Expected net proceeds total approximately $360.7 million across the three tranches, with the initial note conversion price set at $26.7750 — a 27.50% premium to the offering price.
Key figures
- Offering Price
- 21
- Shares Offered
- approximately $175.0 million of common stock at $21.00 per share, plus pre-funded warrants for approximately $25.0 million at $20.999
- Coupon
- 2.25%
- Cash runway
- through end of 2029
- Notes maturity
- December 1, 2032
- Conversion price
- 26.775
- Conversion premium
- 27.50%
- Net proceeds notes
- 145000000
- Net proceeds equity
- 187500000
- Over allotment notes
- 22500000
- Over allotment equity
- 30000000
- Convertible notes principal
- 150000000
- Net proceeds private placement
- 28200000
AI analysis
Red flags3 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.