RAPT Therapeutics Announces Pricing of Initial Public Offering
October 30 2019 - 8:49PM
Business Wire
RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage
immunology-based biopharmaceutical company focused on discovering,
developing and commercializing oral small molecule therapies for
patients with significant unmet needs in oncology and inflammatory
diseases, today announced the pricing of its initial public
offering of 3,000,000 shares of common stock at a public offering
price of $12.00 per share.
In addition, the underwriters have been granted a 30-day option
to purchase up to an additional 450,000 shares of common stock at
the initial public offering price, less the underwriting discount.
The gross proceeds of the offering, before deducting underwriting
discounts and commissions and other offering expenses payable by
RAPT, are expected to be $36.0 million, excluding any exercise of
the underwriters’ option to purchase additional shares. The shares
are expected to begin trading on the Nasdaq Global Market on
October 31, 2019, under the ticker symbol “RAPT.” The offering is
expected to close on November 4, 2019, subject to the satisfaction
of customary closing conditions.
BMO Capital Markets, Wells Fargo Securities and UBS Investment
Bank are acting as joint book-running managers for the
offering.
The offering is being made only by means of a prospectus. Copies
of the final prospectus relating to this offering may be obtained,
when available, from: BMO Capital Markets Corp., Attention: Equity
Syndicate Department, 3 Times Square, 25th Floor, New York, NY
10036, by telephone at (800) 414-3627 or by e-mail at
bmoprospectus@bmo.com; Wells Fargo Securities, LLC, Attention:
Equity Syndicate Department, 375 Park Avenue, New York, New York
10152, or by email at cmclientsupport@wellsfargo.com, or by
telephone at (800) 326-5897; or UBS Securities LLC, Attention:
Prospectus Department, 1285 Avenue of the Americas, New York, NY
10019, by telephone at (888) 827-7275 or by email at
ol-prospectus-request@ubs.com. Copies of the preliminary prospectus
and, when available, the final prospectus related to the Offering
are also available, or will be available, at www.sec.gov.
A registration statement relating to the shares being sold in
this offering was declared effective by the Securities and Exchange
Commission on October 30, 2019. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any state or other 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 other
jurisdiction.
About RAPT Therapeutics, Inc.
RAPT Therapeutics (formerly FLX Bio) 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 oncology and inflammatory
diseases. Utilizing its proprietary discovery and development
engine, the company is developing highly selective small molecules
designed to modulate the critical immune responses underlying these
diseases. In its first four years since inception, RAPT has
discovered and advanced two unique drug candidates, each targeting
C-C motif chemokine receptor 4. The company’s lead oncology drug
candidate, FLX475, reached the clinic in just two and a half years
with its lead inflammation drug candidate, RPT193, also in the
clinic. The company is also pursuing a range of targets, including
general control nonderepressible 2 and hematopoietic progenitor
kinase 1, that are in the discovery stage of development.
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version on businesswire.com: https://www.businesswire.com/news/home/20191030006199/en/
Media Contact: Angela Bitting media@rapt.com (925) 202-6211
Investor Contact: Sylvia Wheeler swheeler@wheelhouselsa.com
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