RAPT Therapeutics announces public offering of common stock

RAPT Therapeutics Inc. (NASDAQ: RAPT) announced it has commenced an underwritten public offering of common stock shares. The South San Francisco-based clinical-stage biopharmaceutical company said it expects to grant underwriters a 30-day option to purchase up to an additional 15% of the total shares being offered at the public offering price, minus underwriting discounts and commissions.

The company focuses on discovering, developing and commercializing therapies for patients with inflammatory and immunological diseases. All shares in the offering are being sold by RAPT itself.

Leerink Partners, TD Cowen, Guggenheim Securities, Wells Fargo Securities and LifeSci Capital are serving as joint bookrunning managers for the offering. H.C. Wainwright & Co. and Clear Street are acting as lead managers.

The offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission that became effective on August 17, 2023. The company noted the proposed offering is subject to market conditions and provided no assurance regarding completion, timing, size or final terms.

A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and made available on the agency's website. The documents will also be available through the underwriters upon request.

The company stated in its announcement that the press release does not constitute an offer to sell or solicitation to buy the securities.

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