Company Rani Therapeutics, developing capsules for oral medication by swallowing, attracted 73 million dollars, releasing 6,7 million shares in 11 dollars - below the stated range from 14 to 16 dollars. Taking into account the actual IPO price, the total diluted market value of the company was 528 million dollars.
Rani Therapeutics has an IPO on 11$
Rani Therapeutics is a clinical biotherapy company, promoting technology, allowing the production of biological products for oral administration, which, according to company representatives, can revolutionize medicine and improve patient outcomes. Rani Therapeutics has developed the RaniPill capsule, which is the company's own patented technology, intended to replace the subcutaneous or intravenous administration of biologicals by the oral route.
Rani Therapeutics планирует листинг на бирже Nasdaq under the ticker RANI. BofA Securities became the joint organizers of the share issue, Stifel, Cantor Fitzgerald и Canaccord Genuity.