Arcus Biosciences, Inc. (RCUS) Form 424B5 — Oct 22, 2026
Arcus Biosciences priced a $250 million follow-on offering of 14,285,715 common shares at $17.50, an 8.4% discount to the prior close of $19.10, with net proceeds estimated at $234.5 million. The offering represents roughly 11% dilution to existing shareholders, with immediate dilution of $12.56 per share to new buyers. Proceeds are earmarked to fund ongoing R&D, including expansion and acceleration of the casdatifan clinical development program, plus general corporate purposes. The filing also disclosed preliminary cash of approximately $694.0 million as of September 30, 2026, bringing pro forma liquidity to roughly $960 million.
Key figures
- Greenshoe
- 2142857
- Cash Position
- 694000000
- Gross Proceeds
- 250000013
- Last Sale Price
- 19.1
- Offering Price
- 17.5
- Shares Offered
- 14285715
- Dilution Percent
- approximately 11.2% (14,285,715 new shares on 127,018,631 shares outstanding pre-offering)
- Dilution Per Share
- 12.56
- Shares Outstanding
- 141304346
- Net Proceeds Estimate
- 234500000
- Offering Discount Percent
- 8.4% below the October 21, 2026 closing price of $19.10
- Underwriting Discount Per Share
- 1.05
AI analysis
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