Rani Therapeutics Holdings, Inc. Announces Pricing of $10.0 Million Registered Direct Offering and Cancellation of Certain Existing Warrants

Group 1 - Rani Therapeutics has entered into a securities purchase agreement for the sale of 3,000,000 shares of Class A common stock and pre-funded warrants to purchase 333,333 shares, along with Series C common warrants for a total of 3,333,333 shares at a combined price of $3.00 per share [1][2] - The gross proceeds from this offering are expected to be approximately $10.0 million before deducting fees and expenses [3] - The offering is expected to close on or about October 16, 2024, subject to customary closing conditions [3] Group 2 - The Series A common warrants, which allowed for the purchase of 3,246,753 shares, will be canceled and are no longer exercisable [2] - The securities are being offered under a "shelf" registration statement declared effective by the SEC on August 10, 2022 [4] - Rani Therapeutics focuses on the oral delivery of biologics and drugs, utilizing its proprietary RaniPill® capsule technology to replace subcutaneous injections or intravenous infusions [6]