At the closing of the financing, each of Samsara and Anomaly will have the right to designate one member of the Company's board of directors
SAN JOSE, Calif., Oct. 17, 2025 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it has entered into a securities purchase agreement with certain institutional and accredited investors, with participation by Mir Imran, the Company's executive chairman, to purchase shares of its Class A common stock (or pre-funded warrants in lieu thereof), and accompanying warrants to purchase Class A common stock (or pre-funded warrants in lieu thereof) (the "Warrants") that is expected to result in gross proceeds of approximately $60.3 million, before deducting placement agent fees and other offering expenses. The private placement is expected to close on or about October 21, 2025, subject to the satisfaction of customary closing conditions. The private placement of the shares of Class A common stock (or pre-funded warrants in lieu thereof) was priced "at-the-market" under the rules and regulations of The Nasdaq Stock Market LLC. The accompanying Warrants will only be exercised upon receipt of stockholder approval.
H.C. Wainwright & Co. is acting as the lead placement agent for the private placement. Maxim Group LLC is acting as co-placement agent for the private placement.
The net proceeds from the oversubscribed private placement (but excluding any proceeds from the exercise of the Warrants), together with an initial upfront payment of $10.0 million and the expected technology transfer milestone of $18.0 million from the Collaboration and License Agreement with Chugai Pharmaceuticals Co. Ltd., which was separately announced today, are expected to fund the Company's operations into 2028. The Company intends to use the net proceeds from the private placement to support the continued advancement of the Company's pipeline using the RaniPill® platform.
"We are pleased to have priced this additional financing from leading biotech investors, which we believe reflects growing confidence in our strategy. Upon completion, this transaction would meaningfully strengthen our balance sheet and extend our cash runway into 2028, positioning us to advance our RaniPill® platform with clarity, focus, and momentum," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "Together, this financing and our strategic partnership with Chugai Pharmaceuticals Co. Ltd. mark a pivotal moment for Rani. By combining our innovative oral delivery technology with Chugai's world-class expertise in antibody development and commercialization, we are uniquely positioned to develop a transformative ...
