Rani Therapeutics induces warrant exercise by Armistice, receives ~$4.3M

Rani Therapeutics Holdings, Inc.

Gross proceeds of ~$4.3M from cash exercise of Series B & C warrants at reduced exercise price of $0.65/sh.
Issues new Series D warrant for 13,160,172 shares at $0.65/sh, 5-year term, subject to stockholder approval.
Company must file resale registration statement for Series D shares within 45 days; seeks Nasdaq approval.
Maxim Group receives 5.25% cash fee on gross proceeds as financial advisor.
Proceeds to be used for working capital and general corporate purposes via Rani LLC.

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