Relay Therapeutics Prices 22.9M Shares at $12 to Raise $275M
RLAY•Relay Therapeutics priced a public offering of 22,916,667 common shares at $12 each, securing approximately $275 million in gross proceeds before expenses. The company granted underwriters a 30-day option to purchase an extra 3,437,500 shares and expects the deal to close on or about May 22, 2026.
1. Offering Terms and Proceeds
Relay Therapeutics is offering 22,916,667 common shares at $12 each, generating approximately $275 million in gross proceeds before expenses. The company has also granted underwriters a 30-day option to purchase an additional 3,437,500 shares.
2. Underwriters and Closing Timeline
Jefferies, TD Cowen, Goldman Sachs and Guggenheim Securities are joint book-running managers, with Raymond James as lead manager. The offering is expected to close on or about May 22, 2026, subject to customary closing conditions.
3. Capital Deployment and Pipeline Support
Proceeds from the offering will bolster cash reserves to advance Relay’s pipeline, including the Phase 3 trial of zovegalisib in HR+/HER2− metastatic breast cancer and studies in PIK3CA-driven vascular anomalies, as well as research on NRAS-driven tumors and Fabry disease.
