BOSTON and SAN DIEGO, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Rapport Therapeutics, Inc. (Nasdaq: RAPP) (“Rapport” or the “Company”), a clinical-stage biotechnology company dedicated to the discovery and development of small molecule precision medicines for patients with neurological or psychiatric disorders, today announced that it has commenced separate underwritten public offerings of $200.0 million of shares of its common stock (the “common stock offering”) and $150.0 million aggregate principal amount of convertible senior notes due 2032 (the “notes offering” and together with the common stock offering, the “underwritten offerings”). In addition, Rapport intends to grant the underwriters in the common stock offering a 30-day option to purchase up to an additional $30.0 million of shares of its common stock under the same terms and conditions and intends to grant the underwriters a 30-day option to purchase up to an additional $22.5 million aggregate principal amount of notes solely to cover over-allotments, if any. Concurrently with the underwritten offerings, Rapport intends to enter into a share purchase agreement with a certain investor named therein (the “Investor”), in a separately negotiated transaction (the “concurrent private placement” and together with the underwritten offerings, the “offerings”) pursuant to which Rapport intends to offer and sell, and the Investor intends to purchase shares of Rapport’s common stock at the price per share of common stock in the common stock offering. The sale of shares to the Investor in the proposed concurrent private placement will not be registered as part of the common stock offering. The proposed offerings are subject to market and other conditions, and there can be no assurance as to whether or when the offerings may be completed, or as to the actual size or terms of the offerings.

Rapport Therapeutics stock tumbles on $350M capital raise. Investing.com - Rapport Therapeutics Inc (NASDAQ:RAPP) shares fell 20% in premarket trading Wednesday following the pricing of $350 million in combined stock and convertible note offerings. The clinical-stage biotechnology company priced an underwritten public offering of approximately $175 million in common stock at $21.00 per share, along with up to $25 million in pre-funded warrants at $20.999 per warrant. Rapport also priced $150 million in 2.25% convertible senior notes due 2032. Additionally, the company entered into a concurrent private placement with an investor for approximately $30 million of common stock at the same offering price. The convertible notes will accrue interest at 2.25% annually, payable semi-annually, and mature on December 1, 2032. The initial conversion rate is set at 37.3483 shares per $1,000 principal amount, equivalent to a conversion price of approximately $26.78 per share, representing a 27.50% premium over the offering price. Rapport expects to receive net proceeds of approximately $187.5 million from the common stock offering, $28.2 million from the private placement, and $145 million from the notes offering, after deducting underwriting discounts and expenses. The offerings are expected to close on or about October 30, 2026. The company intends to use the proceeds primarily to fund ongoing and planned clinical trials for RAP-219, its lead investigational drug, as well as for research and development, working capital, and general corporate purposes. Rapport stated the proceeds, combined with existing cash and investments, will enable it to fund operations through the end of 2029. Morgan Stanley, Leerink Partners, and Evercore ISI are serving as joint book-running managers for the underwritten offerings and placement agents for the concurrent private placement. BTIG and Citizens Capital Markets are acting as joint book-running managers for the common stock offering. Original Article