InvestmentApr 17, 2026, 04:04 PM
Revolution Medicines Closes $2.225B Upsized Stock & Note Offerings
AI Summary
Revolution Medicines, Inc. announced the closing of its concurrent upsized public offerings, raising approximately $2.225 billion in gross proceeds. The offerings included 12,147,887 shares of common stock at $142.00 per share and $500.0 million in 0.50% convertible senior notes due 2033. The company plans to use the estimated net proceeds of $2.137 billion for general corporate purposes, including research and development and potential product commercialization.
Key Highlights
- Closed upsized public offerings, raising $2.225 billion in gross proceeds.
- Issued 12,147,887 common shares at $142.00 per share.
- Issued $500.0 million in 0.50% convertible senior notes due 2033.
- Notes have an initial conversion price of approximately $198.80 per share.
- Net proceeds of $2.137 billion will fund R&D and commercialization.