The Life Sciences team advised Rapport Therapeutics on the closing of its initial public offering and concurrent private placement of its common stock at a price to the public of $17.00 per share. Rapport sold 9,200,000 shares in the IPO, which included full exercise of the underwriters’ option to purchase additional shares. An additional 1,058,824 shares were sold at the IPO price to certain existing investors of Rapport in a concurrent private placement. Aggregate gross proceeds from the IPO and concurrent private placement were $174.4 million, before deducting underwriting commissions, placement agent fees and estimated offering expenses. The shares began trading on The Nasdaq Global Market on June 7, 2024 under the ticker symbol “RAPP.”
Rapport Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing transformational precision neuromedicines for patients suffering from central nervous system (CNS) disorders. The company’s founders have made pioneering discoveries related to the function of receptor associated proteins (RAPs) in the brain.
The Goodwin team was led by Stephanie Richards, Justin Platt, Kingsley Taft, Kathryn Clerici, Alexa Folco and Zara Mahmood (Capital Markets); Samuel Beavers and Nathan Nelson (Corporate Ongoing); Cathy McCarty and Miho Kaneko (Intellectual Property); Julie Tibbets (FDA Regulatory); Matthew Wetzel (Healthcare Regulatory); Sarah Bock, Andrean Williams and Justine Park (Executive Compensation & Benefits); Jennifer Fay (Employment); Alan Wang and Chris Zhong (Licensing); Dan Karelitz and Garrett Gaughan (Tax); Jacqueline Klosek, Alex Intile, Federica De Santis and Isabelle Staff (Data Privacy); Justin Pierce (Global Trade); Caroline Bullerjahn, Jennifer Luz, John Barker, Tucker DeVoe and Marco Wong (Litigation); Maggie Wong and James Matarese (Opinions); with invaluable assistance from Nathan Needle, Aniko Bouley and Anderson Riddick.
For additional details on the offering, please read the press release and coverage in Law360 and Reuters.