Rapport Therapeutics Prices Stock, Convertible Notes Offerings; Private Placement; Shares Fall

10:59 AM EDT, 10/28/2026 (MT Newswires) -- Rapport Therapeutics (RAPP) said Wednesday it priced separate offerings of $175 million of common stock at $21 per share, along with pre-funded warrants, and $150 million of 2.25% convertible senior notes due 2032. The company said it also entered into a private placement with an investor to sell $30 million of common stock at the same offering price. Rapport granted underwriters a 30-day option to purchase up to an additional $30 million of shares, also at the offering price. The company said it expects net proceeds of $187.5 million from the stock offering, $28.2 million from the private placement and $145 million from the notes offering. The offerings are expected to close on Friday. Proceeds are expected to be used to fund clinical trials to advance the drug RAP-219, for other research and development, for working capital and general corporate purposes, the company said. Rapport Therapeutics' shares were 18% lower in Wednesday trading. Price: 23.29, Change: -4.25, Percent Change: -15.43