Revolution Medicines Prices 14.13 Mln Shares At $46/Shr, To Raise $750 Mln

(RTTNews) - Revolution Medicines, Inc. (RVMD), a clinical-stage oncology company developing targeted therapies for patients with RAS-addicted cancers, announced late Tuesday that it has priced around 14.13 million shares of its common stock at a public offering price of $46.00 per share.

The company is also offering pre-funded warrants to purchase around 2.17 million shares of common stock at a public offering price of $45.9999, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each pre-funded warrant.

All of the shares and pre-funded warrants in the offering are to be sold by Revolution Medicines.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 2.45 million shares of common stock at the public offering price, less underwriting discounts and commissions.

The gross proceeds from the offering would be around $750 million, before deducting underwriting discounts and commissions and other offering expenses.

The offering is expected to close on December 5, subject to customary closing conditions.

J.P. Morgan, TD Cowen, Goldman Sachs & Co. LLC and Guggenheim Securities are acting as joint book-running managers for the offering.