Revolution Medicines, Inc. announced on December 3, 2024, the pricing of an upsized public offering, expecting to raise approximately $750.0 million in gross proceeds. The offering includes 14,130,436 shares of common stock priced at $46.00 per share, and pre-funded warrants to purchase 2,173,917 shares of common stock at $45.9999 per warrant.
The company also granted underwriters a 30-day option to purchase up to an additional 2,445,652 shares of common stock. All shares and pre-funded warrants are being sold by Revolution Medicines. The offering is expected to close on December 5, 2024, subject to customary closing conditions.
This significant capital infusion is intended to bolster the company's balance sheet and fund its ambitious clinical development programs. The pricing details provide clarity on the terms of the equity raise and its potential dilutive effect on existing shareholders.
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