Relay Therapeutics, Inc. (RLAY) Form 424B5 — Aug 6, 2026
Relay Therapeutics filed a 424B5 prospectus supplement on August 6, 2026 to replenish its at-the-market equity program, registering up to $212,978,049 of common stock for sale from time to time through sales agent TD Cowen at a commission of up to 3.0% of gross proceeds. The company had already issued 16,006,569 shares under the original sales agreement through August 3, 2026, with about $87.0 million remaining eligible; the amendment adds roughly $213.0 million of fresh capacity. If fully used at the July 31, 2026 close of $18.83, the program would add about 11.3 million shares, lifting shares outstanding from 218.5 million to up to 229.8 million — roughly 5% dilution.
Key figures
- Gross Proceeds
- up to $212,978,049
- Offering Price
- at market prices; last reported sale price $18.83 on July 31, 2026
- Shares Offered
- up to approximately 11,310,570 shares assumed at $18.83 (actual sales discretionary)
- Commission Rate
- up to 3.0% of gross proceeds
- Net Tangible Book Value
- $850.6 million ($3.89 per share) as of June 30, 2026
- Estimated Offering Expenses
- approximately $0.2 million
- Dilution Per Share New Investors
- 14.22
- Shares Outstanding Pre Offering
- 218531200
- As Adjusted Net Tangible Book Value
- approximately $1.1 billion ($4.61 per share)
- Remaining Capacity Under Prior ATM
- $87,021,951
- Shares Outstanding Post Offering Max
- 229841770
- Weighted Average Option Exercise Price
- $13.63 per share (11,927,393 options outstanding)
- Sales Agent Legal Expense Reimbursement
- up to $75,000
- Shares Issued Under Prior ATMThrough Aug3 2026
- 16006569
Price after filing
Close on the filing date to close N calendar days later (from $19.54). Historical, not a forecast.
AI analysis
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