RAPT Therapeutics Announces Pricing of Public Offering of Common Stock
16 June 2021 - 1:07PM
RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage,
immunology-based biopharmaceutical company focused on discovering,
developing and commercializing oral small molecule therapies for
patients with significant unmet needs in oncology and inflammatory
diseases, today announced the pricing of its previously announced
underwritten public offering of 3,787,879 shares of its common
stock at a price to the public of $33.00 per share. All of the
shares of common stock are being offered by RAPT. Gross proceeds to
RAPT from the offering are expected to be approximately $125
million, before deducting underwriting discounts and commissions
and estimated offering expenses. In addition, the underwriters have
been granted a 30-day option to purchase up to an additional
568,181 shares of common stock on the same terms and conditions.
The offering is expected to close on June 18, 2021, subject to
customary closing conditions.
J.P. Morgan, SVB Leerink and Piper Sandler are
acting as joint lead book-running managers for the offering. Cantor
is acting as book-running manager for the offering. H.C. Wainwright
& Co. and Roth Capital Partners are acting as co-lead managers
for the offering.
The offering is being made pursuant to a shelf
registration statement, including a base prospectus, filed by RAPT
with the Securities and Exchange Commission (SEC), which
was declared effective by the SEC on November 16, 2020. The
offering may be made only by means of a prospectus supplement and
accompanying prospectus. A preliminary prospectus supplement and
accompanying prospectus relating to the offering have been filed
with the SEC and are available on the SEC’s website at www.sec.gov.
When available, electronic copies of the final prospectus
supplement and the accompanying prospectus may also be obtained
from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at
prospectus-eq_fi@jpmorgan.com or by telephone at (866) 803-9204;
SVB Leerink LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA 02110, by email at
syndicate@svbleerink.com or by telephone at (800) 808-7525, ext.
6105; or Piper Sandler & Co., 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, Attention: Prospectus Department, by email
at prospectus@psc.com or by telephone at (800) 747-3924.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About RAPT Therapeutics, Inc.
RAPT Therapeutics is a clinical stage
immunology-based biopharmaceutical company focused on discovering,
developing and commercializing oral small molecule therapies for
patients with significant unmet needs in oncology and inflammatory
diseases. Utilizing its proprietary discovery and development
engine, the Company is developing highly selective small molecules
designed to modulate the critical immune drivers underlying these
diseases. RAPT has discovered and advanced two unique drug
candidates, FLX475 and RPT193, each targeting C-C motif chemokine
receptor 4 (CCR4), for the treatment of cancer and inflammation,
respectively. The Company is also pursuing a range of targets that
are in the discovery stage of development.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements relating to RAPT’s
expectations regarding the expected completion and timing of
closing of the underwritten public offering. These statements are
subject to significant risks and uncertainties and actual results
could differ materially from those projected. RAPT cautions
investors not to place undue reliance on the forward-looking
statements contained in this release. These risks and uncertainties
include, without limitation, risks and uncertainties related to
market conditions and the satisfaction of closing conditions
related to the offering. Risks and uncertainties relating to RAPT
and its business can be found in the “Risk Factors” section of
RAPT’s Form 10-Q for the quarter ended March 31, 2021, filed with
the SEC on May 11, 2021, and in the preliminary prospectus
supplement related to the public offering filed with the SEC on
June 14, 2021, and in the final prospectus supplement related to
the public offering to be filed with the SEC on or about June 16,
2021. RAPT undertakes no duty or obligation to update any
forward-looking statements contained in this release as a result of
new information, future events or changes in RAPT’s expectations,
except as required by law.
Investor Contact:Sylvia
Wheelerswheeler@wheelhouselsa.com
Media Contact:Aljanae
Reynoldsareynolds@wheelhouselsa.com
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