RA Pharmaceuticals’ $58 Million Common Stock Offering


Goodwin advised RA Pharmaceuticals on the deal

Ra Pharmaceuticals, Inc. (NASDAQ: RARX) executed the pricing of an underwritten public offering of 8,400,000 shares of its common stock at a public offering price of $6.00 per share, before underwriting discounts. Ra Pharma also granted the underwriters a 30-day option to purchase up to an additional 1,260,000 shares of common stock. The gross proceeds from the offering, before deducting underwriting discounts and estimated offering expenses, are expected to be $50.4 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering are to be sold by Ra Pharma.

Credit Suisse, Jefferies, and BMO Capital Markets are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey is acting as lead manager. The offering is expected to close on or about February 16, 2018, subject to customary closing conditions.

Ra Pharma intends to use the net proceeds from the offering, in addition to its existing cash resources, to fund its Phase 2 trial for RA101495 for gMG, other pipeline programs, and for working capital and general corporate purposes.

Ra Pharmaceuticals is a clinical stage biopharmaceutical company focusing on the development of next-generation therapeutics for complement-mediated diseases. The company, led by Douglas A Treco, Simon Read and Ramin Farzaneh-Far, is based in Cambridge.

The Goodwin team was led by partner Robert Puopolo (Picture) and included associates James Xu, Yan Xing, Jessica Craig and Alexander Varond.

Involved fees earner: Robert Puopolo – Goodwin Procter; James Xu – Goodwin Procter; Xing Yan – Goodwin Procter; Jessica Craig – Goodwin Procter; Alexander Varond – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Ra Pharmaceuticals, Inc. ;

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Author: Ambrogio Visconti