Business
Revolution Medicines Announces Closing of Upsized Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares
Underwriters’ full exercise of option brings gross proceeds to $264.5 million REDWOOD CITY, Calif., July 22, 2022 (GLOBE NEWSWIRE) -- Revolution Medicines,
About this update from Revolution Medicines, Inc.
[{"type":"text","content":"Underwriters’ full exercise of option brings gross proceeds to $264.5 million\nREDWOOD CITY, Calif., July 22, 2022 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced the closing of an underwritten public offering of 13,225,000 shares of common stock at a public offering price of $20.00 per share, before underwriting discounts and commissions. The shares of common stock issued and sold in the offering include 1,725,000 shares issued upon exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, were $264.5 million. All shares in the offering were offered by Revolution Medicines. J.P. Morgan, Cowen and Guggenheim Securities acted as the joint book-running managers for the offering. A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on March 2, 2021, and automatically became effective upon filing. This offering was made solely by means of a prospectus. A copy of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at [email protected]; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone at (833) 297-2926 or by email at [email protected]; or Guggenheim Securities, LLC, Attn: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification u...