RAPT Therapeutics Secures $150 Million in Private Placement

RAPT Therapeutics, Inc., a company specializing in immunology-based therapeutics targeting inflammatory diseases, has announced a sizable $150 million private placement of its securities. The placement, facilitated under a securities purchase agreement, includes 100 million shares of common stock and pre-funded warrants. The agreed upon price for shares is $0.85 each, while pre-funded warrants are set at $0.8499. This financial move, largely spearheaded by The Column Group and featuring contributions from renowned investors like BVF Partners LP and Perceptive Advisors, aims to support RAPT's R&D pipeline and general corporate activities. Despite not being registered under the Securities Act of 1933, RAPT is committed to registering the securities with the Securities and Exchange Commission, as stated in a concurrent registration rights agreement. This transaction, expected to close on December 27, 2024, also engages Leerink Partners as the sole placement agent, adhering to typical closing conditions. The press release stresses considerations typical of forward-looking statements, highlighting associated risks and uncertainties.