RAPT Therapeutics Announces Pricing of Public Offering of Common Stock
November 17 2022 - 9:38PM
RAPT Therapeutics, Inc. (Nasdaq: RAPT) (“RAPT” or the
“Company”), a clinical-stage, immunology-based biopharmaceutical
company focused on discovering, developing and commercializing oral
small molecule therapies for patients with significant unmet needs
in inflammatory diseases and oncology, today announced the pricing
of its previously announced underwritten public offering of
4,054,055 shares of its common stock at a price to the public
of $18.50 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 $75 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 608,108 shares of common stock at the public offering
price, less underwriting discounts and commissions. The offering is
expected to close on November 22, 2022, subject to customary
closing conditions.
J.P. Morgan, Evercore ISI, Guggenheim Securities
and Cantor are acting as joint book-running 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 (the “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@jpmchase.com or by telephone at (866) 803-9204;
Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East
52nd Street, 36th Floor, New York, NY 10055, by telephone at (888)
474-0200, or by email at ecm.prospectus@evercore.com; Guggenheim
Securities, LLC, Attention: Equity Syndicate Department, 330
Madison Avenue, 8th Floor, New York, NY 10017, by telephone at
(212) 518-9544 or by email at
GSEquityProspectusDelivery@guggenheimpartners.com; or Cantor
Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue,
6th Floor, New York, New York 10022, or by email at
prospectus@cantor.com.
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 inflammatory diseases and
oncology. 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, RPT193 and FLX475, each targeting C-C motif chemokine
receptor 4 (CCR4), for the treatment of inflammation and cancer,
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 September 30, 2022, filed
with the SEC on November 10, 2022, and in the preliminary
prospectus supplement related to the public offering filed with the
SEC on November 17, 2022, and in the final prospectus supplement
related to the public offering to be filed with the SEC. 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.
RAPT Media Contact: Aljanae
Reynolds areynolds@wheelhouselsa.com
RAPT Investor Contact: Sylvia
Wheeler swheeler@wheelhouselsa.com
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