Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, has announced the pricing of its underwritten public offering of 13,636,364 shares of common stock at a public offering price of US$22.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 2,045,454 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, are expected to be US$300.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on March 7, 2023, subject to customary closing conditions.
Latham & Watkins LLP represents Revolution Medicines in the offering, with a corporate deal team led by Bay Area partners Mark Roeder and John Williams, with associates Zuzanna Gruca, Taimi Jacobson, and Suhansi Perera. Advice was also provided on regulatory matters by Washington, D.C. partners John Manthei and Elizabeth Richards, Bay Area partners Heather Deixler and Betty Pang, with Washington, D.C. associate Nathan Beaton, and Los Angeles associates Leia Gu and Jack Chai; on tax matters by Bay Area partner Grace Lee, with associate Derek Gumm; on benefits matters by Bay Area partner James Metz; and on IP matters by Bay Area partner Christopher Hazuka, with San Diego associate Kristina Funahashi.
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