24/7 Market News Snapshot 23 December, 2024 – RAPT Therapeutics, Inc. Common Stock (NASDAQ:RAPT)

December 23, 2024

DENVER, Colo., 23 December, 2024 (247marketnews.com) – (NASDAQ:RAPT) are discussed in this article.
RAPT Therapeutics, Inc. is currently witnessing a remarkable surge in its stock value, with shares climbing 50.23% in pre-market trading to reach $1.240, significantly up from the prior closing price of $0.825. This impressive movement has been accompanied by a trading volume of 4.62 million shares, reflecting heightened investor interest and strong bullish sentiment surrounding the company’s recent developments.

In a strategic move to bolster its growth and innovation, RAPT has also announced a private placement agreement, securing $150 million through the sale of 100 million shares of common stock to accredited investors at a price of $0.85 per share. Additionally, investors will have the option to acquire approximately 76 million pre-funded warrants at a price of $0.8499 per warrant. The closing of this financing is expected on or about December 27, 2024, pending the usual closing conditions.

The infusion of capital will primarily support RAPT’s research and development initiatives aimed at advancing its therapeutics for inflammatory diseases. The recent financing round has attracted notable institutional participation, with investments from prominent firms such as The Column Group, TCGX, BVF Partners LP, and OrbiMed, further underscoring confidence in RAPT’s future prospects.

It is important to note that the securities from this private placement have not been registered under the Securities Act, indicating a carefully structured funding approach that includes a registration rights agreement to facilitate future resales. As RAPT Therapeutics continues to develop its innovative therapies leveraging a proprietary development platform, it remains firmly committed to addressing significant unmet medical needs, positioning itself for substantial growth and transformation in the therapeutic landscape.

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