Rezolute Announces Pricing of Approximately $100 Million Underwritten Offering of Common Stock and Pre-Funded Warrants

Rhea-AI Summary

Rezolute (Nasdaq: RZLT) priced an underwritten offering of common stock and pre-funded warrants expected to raise approximately $100 million in gross proceeds.

The offering includes 22,040,976 common shares at $3.87 each and pre-funded warrants to purchase up to 3,800,000 shares at $3.869 per warrant, with a $0.001 per-share exercise price. Closing is expected on or about November 16, 2026, subject to customary closing conditions. Frazier Life Sciences leads the financing, with new and existing funds participating. Rezolute intends to use net proceeds alongside existing cash and cash equivalents for ersodetug commercialization preparation, working capital and general corporate purposes.

2 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Offering proceeds are expected to provide approximately $100 million gross before underwriting discounts, commissions and other expenses. 27% of market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Net proceeds and existing cash are intended to fund ersodetug commercialization preparation.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.22,040,976 common shares at $3.87 each add shares and dilute existing holders.
• Minor point. Forward-looking: it has not happened yet and may not happen.Pre-funded warrants for up to 3,800,000 shares add potential dilution at $3.869 each, plus $0.001 per-share exercise.

Key Figures

Gross proceeds: approximately $100 million Common shares: 22,040,976 shares Pre-funded warrants: up to 3,800,000 warrants +2 more

Gross proceeds

approximately $100 million

Expected, before underwriting discounts, commissions and other offering expenses

Common shares

22,040,976 shares

Priced at $3.87 per share

Pre-funded warrants

up to 3,800,000 warrants

Priced at $3.869 per warrant

Warrant exercise price

$0.001 per share

For each pre-funded warrant

Expected closing

on or about November 16, 2026

Subject to customary closing conditions

Historical Context

1 past event · Latest: Nov 05

1 event

1. Nov 05

   Earnings report

   24h Move

   +6.6%

   Quarterly report disclosed $90.0 million cash and a wider net loss, alongside mixed trial updates.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten offering, pre-funded warrants, shelf registration statement, prospectus supplement

4 terms

underwritten offering financial

"pricing of an underwritten offering of 22,040,976 shares"

An underwritten offering is when a bank or group of banks agrees to buy all of a company's new shares or bonds and then resell them to outside investors, guaranteeing the company will raise a specific amount of money. It matters to investors because it adds certainty that the funding will close while increasing the number of shares or debt in the market, which can lower the price per share and change each existing owner's ownership percentage—think of a wholesaler buying an entire shipment from a maker before it reaches stores.

pre-funded warrants financial

"pre-funded warrants to purchase up to 3,800,000 shares"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

shelf registration statement regulatory

"offered and sold pursuant to a “shelf” registration statement on Form S-3"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

prospectus supplement regulatory

"A prospectus supplement and accompanying prospectus describing the terms"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Transaction led by Frazier Life Sciences with participation from new and existing funds

REDWOOD CITY, Calif., Nov. 13, 2026 (GLOBE NEWSWIRE) -- Rezolute, Inc. (Nasdaq: RZLT) (Rezolute or the Company), a late-stage ultra-rare, metabolic disease company focused on treating refractory hypoglycemia caused by any form of hyperinsulinism (HI), today announced the pricing of an underwritten offering of 22,040,976 shares of its common stock at an offering price of $3.87 per share, and to certain investors in lieu of common stock, pre-funded warrants to purchase up to 3,800,000 shares of common stock at an offering price of $3.869 per pre-funded warrant, which represents the per share offering price for the common stock, less the $0.001 per share exercise price for each such pre-funded warrant. The gross proceeds to Rezolute from the offering, before deducting underwriting discounts, commissions and other offering expenses, are expected to be approximately $100 million. The offering is expected to close on or about November 16, 2026, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from this offering, together with its existing cash and cash equivalents, to fund ersodetug commercialization preparation, working capital and general corporate purposes.

The financing is being led by Frazier Life Sciences and includes participation from new and existing funds.

Morgan Stanley, Guggenheim Securities, and Cantor are acting as joint book-running managers for the offering. H.C. Wainwright & Co. and Jones are acting as lead managers for the offering. Maxim Group LLC and Lake Street Capital Markets, LLC are acting as co-managers for the offering.

The securities in the registered offering are being offered and sold pursuant to a “shelf” registration statement on Form S-3 (File No. 333-299867), filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 5, 2026, and declared effective on November 10, 2026. A prospectus supplement and accompanying prospectus describing the terms of the registered offering will be filed with the SEC and will be available on its website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to the offering, when available, may also be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, New York 10014, by phone: 1-866-718-1649 or by email: prospectus@morganstanley.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8^th Floor, New York, New York 10017, or by phone: 1-212-518-9544, or by email: GSEquityProspectusDelivery@guggenheimsecurities.com; or Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 110 East 59^th Street, 6^th Floor, New York, New York 10022, or by email: prospectus@cantor.com.

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 registration or qualification under the securities laws of any such state or jurisdiction.

About Rezolute, Inc.

Rezolute is a late-stage ultra-rare, metabolic disease company focused on treating refractory hypoglycemia caused by any form of hyperinsulinism (HI). The Company’s antibody therapy, ersodetug, has been studied in clinical trials and used in real-world cases for the treatment of refractory hypoglycemia due to a variety of causes of HI.

Forward-Looking Statements

This release, like many written and oral communications presented by Rezolute and its authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of Rezolute, are generally identified by use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. These forward-looking statements include, but are not limited to, Rezolute’s expectations regarding the anticipated use of proceeds and the completion of the offering. The Company’s ability to predict results or the actual effects of its plans or strategies is inherently uncertain. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, Rezolute undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made. Important factors that may cause such a difference include, among others, those related to market and other financial conditions, satisfaction of customary closing conditions related to the offering, and any other factors discussed in Rezolute’s filings with the SEC, including the Risk Factors contained in Rezolute’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at the U.S. Securities and Exchange Commission’s website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements in this release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement.

Rezolute Contacts:

Christen Baglaneas
Rezolute, Inc.
1411 Broadway, 16^th Floor
New York, NY 10018
cbaglaneas@rezolutebio.com
508-272-6717

Carrie McKim
Rezolute, Inc.
1411 Broadway, 16^th Floor
New York, NY 10018
cmckim@rezolutebio.com
336-608-9706

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the terms of Rezolute's RZLT stock and pre-funded warrant offering?

Rezolute priced 22,040,976 common shares at $3.87 each and pre-funded warrants to purchase up to 3,800,000 shares at $3.869 per warrant. Each warrant has a $0.001 per-share exercise price. Expected gross proceeds are approximately $100 million before underwriting discounts, commissions and other offering expenses.

When is Rezolute's offering expected to close?

The offering is expected to close on or about November 16, 2026, subject to satisfaction of customary closing conditions.