The biotech firm priced 22.92M shares in a public offering, targeting gross proceeds of $275M to fund operations and pipeline development.
Relay Therapeutics priced a public offering of 22.92 million shares of common stock at $12.00 per share, raising approximately $275 million in gross proceeds. The offering includes an option for underwriters to purchase additional shares within a 30-day period.
The company did not disclose specific use of proceeds but typically allocates such funds toward research, clinical trials, and operational expansion. Prior to this offering, Relay Therapeutics had not conducted a public stock sale of this scale in recent years.
Shares of Relay Therapeutics (RLAY) were last traded at a price near the offering level, reflecting market absorption of the new supply.