Rapid Micro Biosystems Inc. (RPID), a life sciences technology company, on Monday announced the pricing of an underwritten public offering.
Shares fell to a 52-week low of $1.91 on Monday.
The company is issuing 3,581,000 shares of Class A common stock, along with Series A and Series B warrants to purchase up to 3,581,000 shares of Class A common stock, respectively. The combined price of each Class A common stock with accompanying Series A and Series B warrant is $1.955.
Series A warrants are issued at an exercise price of $1.955 per share, exercisable for 6 months and expiring in one year. Series B warrants are being issued at an exercise price of $2.34 per share, exercisable for 6 months, and expiring in five years.
Pre-funded warrants are being offered in lieu of these, at an exercise price of $0.01 per share, accompanying Series A and Series B warrants to purchase up to 1,463,000 shares respectively of Class A common stock. The combined price of each pre-funded warrant and accompanying Series A and Series B warrant is $1.945.
Additionally, the company entered a securities purchase agreement with certain officers and directors to issue up to 71,607 shares of Class A common stock and accompanying Series A and Series B warrants to purchase 71,607 shares each.
The gross proceeds from the offering are estimated to be $9.8 million. If all Series A and B warrants are converted to Class A shares, the company may receive an additional $21.7 million.
The offering is expected to close by May 20, 2026, subject to customary closing conditions.
RIPD closed Monday at $1.95, down 5.56%.
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