On May 20, 2025, Rani Therapeutics Holdings Inc. entered into a letter agreement with an existing institutional investor to issue a Series D common stock warrant for purchasing up to 13,160,172 shares of Class A Common Stock at $0.65 per share. This transaction is expected to generate approximately $4.3 million in gross proceeds from the exercise of Series B and Series C Warrants. Maxim Group LLC acted as the financial advisor for this transaction.
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