Core Points - Rani Therapeutics closed a private placement with institutional and accredited investors, raising gross proceeds of $60.3 million [1][3] - The private placement included the issuance of 42,633,337 shares of Class A common stock at $0.48 per share and pre-funded warrants at $0.4799 per warrant [4] - The company plans to use the net proceeds to advance its pipeline using the RaniPill® platform and expects to fund operations into 2028 [3][11] Private Placement Details - The private placement was led by Samsara BioCapital, with participation from RA Capital Management, Anomaly, Special Situations Funds, Invus, and executive chairman Mir Imran [5][8] - The accompanying warrants allow for the purchase of up to 125,000,004 shares of Class A common stock at an exercise price of $0.48 per share [4] - Avenue Venture Opportunities Fund converted $6 million of outstanding debt into 12,500,000 shares of Class A common stock, reducing the company's total debt obligations [7] Financial Projections - The net proceeds from the private placement, along with an upfront payment of $10 million and a technology transfer milestone of $18 million from Chugai Pharmaceuticals, are expected to support operations until 2028 [3] - The company has entered into a registration rights agreement to file a registration statement with the SEC for the resale of the shares and warrants issued in the private placement [9]