Rani Therapeutics Prices ~$20M Offering Of 12.48M Common Shares At $1.07/Share

Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani") (NASDAQ:RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it has entered into a securities purchase agreement led by a sovereign wealth fund, along with other new and existing healthcare-focused funds for the purchase and sale of 12,476,637 shares of Rani Therapeutics' Class A common stock at a purchase price of $1.07 per share and pre-funded warrants to purchase 6,214,953 shares of Class A common stock at a purchase price of $1.0699 per pre-funded warrant in a registered direct offering priced at-the-market under Nasdaq rules. The exercise price of each pre-funded warrant is $0.0001 per share of Class A common stock.

H.C. Wainwright & Co. is acting as the lead placement agent for the offering. Chardan Capital Markets is acting as placement agent for the offering.

The offering is expected to close on or about May 27, 2026, subject to satisfaction of customary closing conditions. The gross proceeds to Rani Therapeutics from this offering are expected to be approximately $20.0 million, before deducting placement agents' fees and other offering expenses.