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Revolution Medicines, Inc. Announces Proposed Offerings of Common Stock and Convertible Senior Notes
REDWOOD CITY, Calif., April 13, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for
About this update from Revolution Medicines, Inc.
[{"type":"text","content":"REDWOOD CITY, Calif., April 13, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced its intention to offer, subject to market and other conditions, $750 million of common stock and $250 million aggregate principal amount of convertible senior notes due 2033 (the “notes”) in separate public offerings registered under the Securities Act of 1933, as amended. Revolution Medicines also expects to grant the underwriters of the common stock offering a 30-day option to purchase up to an additional $112.5 million of common stock, and expects to grant the underwriters of the note offering a 30-day option to purchase up to an additional $37.5 million principal amount of notes solely to cover over-allotments. The completion of the common stock offering will not be contingent on the completion of the note offering, and the completion of the note offering will not be contingent on the completion of the common stock offering. J.P. Morgan, TD Cowen and Guggenheim Securities are acting as book-running managers for the note offering and the common stock offering. The notes will be senior, unsecured obligations of Revolution Medicines, will accrue interest payable semi-annually in arrears and will mature on May 1, 2033, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Revolution Medicines will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at Revolution Medicines’ election. The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Revolution Medicines’ option at any time, and from time to time, on or after May 6, 2030 and on or before the 31st scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Revolution Medicines’ common stock exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If certain corpo...