Rani Therapeutics (RANI) IPO Opens Modestly Higher After Weak Pricing
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July 30, 2021 8:56 AM EDT
SAN JOSE, Calif., July 30, 2021 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (Rani Therapeutics or 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 to an additional 1,000,000 shares of... More
