other
confidence high
sentiment neutral
materiality 0.85
Rein Therapeutics prices $50M public offering of 50M shares at $1.00/share
Rein Therapeutics, Inc.
- Gross proceeds $50M from 50M shares at $1.00; net proceeds ~$46.1M after discounts and expenses.
- Underwriter granted 45-day option for up to 7.5M additional shares; warrants for 3% of sold shares at $1.50.
- Bios entities defer conversion of 12,232 Series X preferred shares and lock-up through April 2029; receive 3M warrants at $1.00.
- Proceeds to fully fund Phase 2 trial of LTI-03 in IPF; cash runway extended into 2028.
- Konik Capital Partners (T.R. Winston) acts as sole book-running manager.