Rani Therapeutics Holdings, Inc. Announces Pricing of $20.0 Million Registered Direct Offering of Class A Common Stock Priced At-The-Market Under Nasdaq Rules
Rhea-AI Summary
Rani Therapeutics (Nasdaq:RANI) priced a registered direct offering of Class A common stock and pre-funded warrants, at-the-market under Nasdaq rules, expected to raise about $20.0 million in gross proceeds.
The deal includes 12,476,637 shares at $1.07 and 6,214,953 pre-funded warrants at $1.0699, closing around May 27, 2026.
Positive
- Gross proceeds expected to be approximately $20.0 million before expenses
- Financing led by a sovereign wealth fund with healthcare-focused investors
- Use of effective Form S-3 shelf registration supports capital-raising flexibility
Negative
- Issuance of 12,476,637 new shares of Class A common stock dilutes existing holders
- Pre-funded warrants for 6,214,953 additional shares create further potential dilution
- Net proceeds will be reduced by placement agent fees and other offering expenses
News Market Reaction – RANI
In the May 26 session, RANI declined 12.10%, reflecting a significant negative market reaction. Argus tracked a trough of -8.0% from its starting point during tracking. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Offering Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 15 | Registered direct offering | Negative | -38.9% | Announced $3.0M registered direct offering with stock and pre-funded warrants. |
| Oct 15 | Registered direct offering | Negative | -33.3% | Priced $10.0M registered direct with stock, pre-funded and Series C warrants. |
| Jul 22 | Registered direct offering | Negative | +1.8% | Announced $10.0M registered direct including Series A and B warrants. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Past registered direct offerings have typically been followed by sharp declines, with an average move of -23.49% across 3 events and two clearly negative reactions.
Over 2024–2025, Rani completed several registered direct offerings, including $10.0 million deals in July 2024 and October 2024 and a smaller $3.0 million raise in July 2025. These financings combined common stock, pre-funded warrants and, at times, additional warrant series. Price reactions were usually negative, underscoring investor sensitivity to dilution. Today’s $20.0 million at-the-market registered direct offering continues this pattern of external capital raises.
Key Terms
registered direct offering financial
pre-funded warrants financial
at-the-market financial
shelf registration statement regulatory
form s-3 regulatory
prospectus supplement regulatory
placement agent financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN JOSE, Calif., May 26, 2026 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it has entered into a securities purchase agreement led by a sovereign wealth fund, along with other new and existing healthcare-focused funds for the purchase and sale of 12,476,637 shares of Rani Therapeutics’ Class A common stock at a purchase price of
H.C. Wainwright & Co. is acting as the lead placement agent for the offering. Chardan Capital Markets is acting as placement agent for the offering.
The offering is expected to close on or about May 27, 2026, subject to satisfaction of customary closing conditions. The gross proceeds to Rani Therapeutics from this offering are expected to be approximately
The securities in the registered direct offering are being offered and sold by Rani pursuant to a “shelf” registration statement on Form S-3 (File No. 333-289424) which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 14, 2025. The offering of the securities is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, or via email at placements@hcwco.com or telephone at (212) 856-5711.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Rani Therapeutics
Rani Therapeutics is a clinical-stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics and drugs. Rani has developed the RaniPill® capsule, which is a novel, proprietary and patented platform technology, intended to replace subcutaneous injection or intravenous infusion of biologics and drugs with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using RaniPill® capsule technology.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the expected gross proceeds and closing date of the offering. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “believe,” “potential,” “expect,” “may,” “could” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Rani’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Rani’s business in general and the other risks described in Rani’s filings with the Securities and Exchange Commission, including Rani’s annual report on Form 10-K for the year ended December 31, 2025 and quarterly report on Form 10-Q for the quarter ended March 31, 2026, and subsequent filings and reports by Rani. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Rani undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Investor Contact:
investors@ranitherapeutics.com
Media Contact:
media@ranitherapeutics.com
