Rani Therapeutics Holdings, Inc. Announces Pricing of $10.0 Million Registered Direct Offering and Cancellation of Certain Existing Warrants

SAN JOSE, Calif., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it has entered into a securities purchase agreement with a single institutional investor for the purchase and sale of 3,000,000 shares of Rani Therapeutics’ Class A common stock (the “Common Stock”) and pre-funded warrants to purchase 333,333 shares of Common Stock, together with Series C common warrants to purchase up to an aggregate of 3,333,333 shares of Common Stock, in a registered direct offering. Each share of Common Stock (or pre-funded warrant) is being sold together with one Series C common warrant at a combined purchase price of $3.00. The Series C common warrants will have an exercise price of $3.00 per share and will expire 5 years from the date of issuance.

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