Business
Revolution Medicines, Inc. Prices $2.0 Billion in Concurrent Upsized Offerings of Common Stock and Convertible Senior Notes
REDWOOD CITY, Calif., April 15, 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 15, 2026 (GLOBE NEWSWIRE) -- Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced the pricing of its concurrent public offerings of 10,563,381 shares of common stock, at a public offering price of $142.00 per share, for aggregate gross proceeds of approximately $1.5 billion, and $500.0 million aggregate principal amount of 0.50% convertible senior notes due 2033 (the “notes”). The offering size of the common stock offering was increased from the previously announced offering size of $750.0 million and the offering size of the note offering was increased from the previously announced offering size of $250.0 million. The issuance and sale of the common stock and the notes are scheduled to settle on April 16, 2026 and April 17, 2026, respectively, subject to customary closing conditions. Revolution Medicines also granted the underwriters of the common stock offering a 30-day option to purchase up to an additional 1,584,506 shares of common stock. 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. LifeSci Capital is acting as lead manager for the note offering and the common stock offering. The notes will be senior, unsecured obligations of Revolution Medicines and will accrue interest at a rate of 0.50% per annum, payable semi-annually in arrears on May 1 and November 1 of each year, beginning on November 1, 2026. The notes will mature on May 1, 2033, unless earlier repurchased, redeemed or converted. Before February 1, 2033, noteholders will have the right to convert their notes only upon the occurrence of certain events. From, and including, February 1, 2033, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. 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 Me...