India, May 26 -- Rani Therapeutics Holdings Inc. (RANI), a clinical-stage biotherapeutics company, on Tuesday announced pricing of a registered direct offering worth $20 million.
Following the announcement, shares fell by 10% on Tuesday.
The company entered a securities purchase agreement led by a sovereign wealth fund and is offering 12,476,637 shares of Class A common stock at $1.07 per share.
The company is also issuing pre-funded warrants to 6,214,953 shares of Class A common stock at a purchase price of $1.0699 per pre-funded warrant.
The gross proceeds from the offering are estimated to be $20 million.
The offering is expected to close on May 27, 2026.
RANI is currently trading at $0.95, down 10.93%.
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