Corporate ActionMay 4, 2026, 04:18 PM
Rein Therapeutics Closes $50M Public Offering, Netting $46.1M
AI Summary
Rein Therapeutics, a clinical-stage biopharmaceutical company, announced the pricing and closing of its underwritten public offering of 50 million shares of common stock at $1.00 per share. The offering generated approximately $46.1 million in net proceeds, which the company intends to use to fully fund its ongoing Phase 2 clinical trial of LTI-03 in idiopathic pulmonary fibrosis and for general corporate purposes, extending its operational runway into 2028. Additionally, the company entered into a letter agreement with Bios Partners, deferring preferred share conversion and issuing warrants to purchase 3 million common shares.
Key Highlights
- Priced underwritten public offering of 50,000,000 common shares at $1.00 per share.
- Expected net proceeds of approximately $46.1 million after underwriting discounts and expenses.
- Granted underwriters a 45-day option to purchase up to 7,500,000 additional shares.
- Issued warrants to underwriters for up to 3% of shares sold, exercisable at $1.50 per share.
- Proceeds will fund Phase 2 clinical trial of LTI-03 in IPF and operations into 2028.
- Issued warrants to Bios Partners for 3,000,000 shares at $1.00 exercise price.