Rani Therapeutics raises $10M via registered direct offering with warrants

Rani Therapeutics Holdings, Inc.

Gross proceeds ~$10M from sale of 2.8M shares, 446,753 pre-funded warrants, and warrants for 6.5M shares.
Combined offering price $3.08 per share/warrant unit; warrants exercisable at $3.08 starting six months after closing.
Series A warrants expire 18 months from issuance; Series B warrants expire 5.5 years from issuance.
Directors and officers subject to 60-day lock-up; company restricted from issuing new securities for up to 60 days.
Closing expected July 23, 2024; Maxim Group acted as placement agent with 6% fee.

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