Rani Therapeutics prices $73M IPO for robotic drug-delivery pill tech

Rani Therapeutics Holdings ​​(NSDQ:RANI), developer of a robotic drug-delivery pill system, generated $73.3 million in its underwritten initial public offering (IPO) of Class A common stock.

The San Jose, Calif.–based company’s IPO of 6.7 million shares priced at $11 a share, generating gross proceeds of $73.3 million.

The company initially targeted an IPO worth approximately $100 million, with shares trading between $14 and $16 on July 30. Shares closed at $10.80 on Aug. 3.

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