Canaccord Genuity Acted as a Joint Bookrunner in an Initial Public Offering for Rani Therapeutics
Rani Therapeutics Holdings, Inc. (the “Company”) (Nasdaq:RANI), priced its $73.3 million initial public offering on July 30, 2021 at a price of $11.00 per share. The Company issued 6,666,667 shares of common stock. In addition, Rani Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 common shares at the initial public offering price, less underwriting discounts and commissions.
Rani Therapeutics is a clinical stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics. Rani has developed the RaniPill capsule, which is a novel, proprietary and patented platform technology, intended to replace subcutaneous injection of biologics with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using the RaniPill™ capsule.