RAPT Therapeutics prices 100M shares at 85c in private placement

RAPT Therapeutics (RAPT) has entered into a securities purchase agreement with a group of accredited investors for the private placement of 100,000,000 shares of common stock at a purchase price of $0.85 per share and to certain investors, in lieu of shares of common stock, pre-funded warrants to purchase up to 76,452,000 shares of common stock at a price per pre-funded warrant of $0.8499, for gross proceeds of approximately $150M. The private placement is expected to close on or about December 27, 2024, subject to the satisfaction of customary closing conditions. The pre-funded warrants will have an exercise price of $0.0001 per share of common stock, be immediately exercisable and remain exercisable until exercised in full. The private placement was led by The Column Group and TCGX, with participation by new and existing investors including BVF Partners, Deep Track Capital, Foresite Capital, Medicxi, OrbiMed, Perceptive Advisors, Redmile Group and RTW Investments. Net proceeds from the private placement are expected to fund the research and development of the Company’s pipeline and for general corporate purposes. Leerink Partners is acting as sole placement agent in connection with the private placement.