REDWOOD CITY, Calif., Dec. 03, 2024 (GLOBE NEWSWIRE) — Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for patients with RAS-dependent cancers, today announced pricing for 14,130,436 shares of its common stock at a public offering price of $46.00 per share, previously taking discounts and commissions, and, instead of ordinary shares, to certain investors, pre-financed guarantees for the purchase of 2,173,917 ordinary shares at the price of the public offering of $45.9999, representing the public offering price per share of common stock less an exercise price of $0.0001 per share for each pre-funded warrant. All shares and pre-funded orders in the offering will be sold by Revolution Medicines. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 2,445,652 shares of common stock at the public offering price, less discounts and commissions. The gross proceeds of the offering are expected to be approximately $750.0 million before deducting underwriting discounts and commissions and other offering expenses, excluding any option of the underwriters to purchase additional shares and excluding the exercise of any pre-funded warrants. The offering is expected to close on December 5, 2024, subject to customary closing conditions.
JP Morgan, TD Cowen, Goldman Sachs & Co. LLC and Guggenheim Securities are acting as joint book-running managers for the offering. The investment bank UBS acts as the lead manager.
A shelf registration statement relating to these securities was filed with the US Securities and Exchange Commission (SEC) on March 4, 2024 and was automatically effective upon filing. This offer is made exclusively through the prospectus. A copy of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained by contacting: JP Morgan Securities LLC, Attention: Broadridge Financial Solutions (NYSE:), 1155 Long Island Avenue, Edgewood, New York 11717, by email at [email protected] and [email protected]; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, by telephone at (855) 495-9846 or by email at [email protected]; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]; and Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, New York 10017, by telephone at (212) 518-9544 or by email at [email protected].
This press release will not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Revolution Medicines, Inc.
Revolution Medicines is a clinical oncology company developing novel targeted therapies for RAS-dependent cancers. The company’s research and development program consists of RAS(ON) inhibitors designed to suppress various oncogenic variants of the RAS protein. The company’s RAS(ON) inhibitors RMC-6236, a RAS(ON) multi-selective inhibitor, RMC-6291, a RAS(ON) G12C-selective inhibitor, and RMC-9805, a RAS(ON) G12D-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline are focused on RAS(ON) mutant-selective inhibitors, including RMC-5127 (G12V), RMC-0708 (Q61H) and RMC-8839 (G13C), along with RAS companion inhibitors RMC-4630 and RMC- 5552.
Forward-looking statements
To the extent that the statements contained in this press release are not descriptions of historical facts regarding Revolution Medicines, they are forward-looking statements that reflect management’s current beliefs and expectations pursuant to the safe harbor provisions of the Litigation Reform Act with ​​private securities from 1995, including statements about the expected completion and timing of the closing of the public offering. Such forward-looking statements involve risks and uncertainties, including, without limitation, risks and uncertainties associated with market conditions and the satisfaction of the closing conditions associated with the public offering. Such forward-looking statements involve substantial risks and uncertainties relating to future events, and actual results may differ materially from those expressed or implied by the forward-looking statements. Revolution Medicines undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties relating to Revolution Medicines’ business generally, see the prospectus supplement relating to the public offering and Revolution Medicines’ current and future reports filed with the SEC, including Revolution Medicines’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 6, 2024.
Revolution Medicines Investors & Media Contacts: [email protected]; [email protected]
Source: Revolution Medicines, Inc.
