Rani Therapeutics prices 4.35M shares at 40c in registered direct offering

Rani Therapeutics (RANI) entered into a securities purchase agreement with a single institutional investor for the purchase and sale of 4,354,000 shares of Rani Therapeutics’ Class A common stock at a purchase price of $0.40 per share and pre-funded warrants to purchase 3,146,000 shares of Class A common stock at a purchase price of $0.3999 in a registered direct offering. The exercise price of each pre-funded warrant is $0.0001 per share of Class A common stock. Maxim Group is acting as the sole placement agent for the offering. The offering is expected to close on or about July 16, 2025, subject to satisfaction of customary closing conditions. The gross proceeds to Rani Therapeutics from this offering are expected to be approximately $3M, before deducting placement agent fees and other offering expenses, excluding the proceeds, if any, from the exercise of the pre-funded warrants.