Rani Therapeutics (RANI) IPO Opens Modestly Higher After Weak Pricing

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Go back to Rani Therapeutics (RANI) IPO Opens Modestly Higher After Weak Pricing

Rani Therapeutics Holdings, Inc (RANI) Prices 6.7M Share IPO at $11/sh

July 30, 2021 8:57 AM EDT

Rani Therapeutics Holdings, Inc. (NASDAQ: RANI), a clinical stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics, today announced the pricing of its initial public offering of 6,666,667 shares of Class A common stock at a price to the public of $11.00 per share. The gross proceeds to Rani from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $73.3 million. In addition, Rani has granted the underwriters a 30-day option to purchase up... More