July 09, 2020
Revolution Medicines, Inc. has announced the pricing of its underwritten public offering of 6,000,000 shares of common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, are expected to be approximately $156.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on July 13, 2020, subject to customary closing conditions.
Latham & Watkins LLP represents Revolution Medicines in the offering with a corporate team led by Bay Area partner Mark Roeder, with Bay Area associates John Williams, Andrew Bertolli, and Nimrah Khan. Advice was also provided on FDA regulatory matters by Washington, D.C. partners John Manthei and Elizabeth Richards, with San Diego associate Amy Speros; on benefits and compensation matters by Bay Area partner James Metz, with Boston associate Lilly Fang; on tax matters by Bay Area partner Grace Lee, with Orange County associate Janet Hsu; and on intellectual property matters by Bay Area partner Judith Hasko, with associate Peggy Ni.
The firm also recently advised Revolution Medicines in its successful initial public offering which announced in February 2020.