Latham & Watkins Advises the Underwriters in Rain Therapeutics’ Initial Public Offering

Rain Therapeutics Inc. (Rain), a clinical-stage company developing precision oncology therapeutics, has announced the pricing of its initial public offering of 7,352,941 shares of common stock at a public offering price of US$17.00 per share. The gross proceeds to Rain from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Rain, are expected to be approximately US$125 million. All of the shares are being offered by Rain. The shares are expected to begin trading on The Nasdaq Global Select Market on April 23, 2021, under the ticker symbol “RAIN.” In addition, Rain has granted the underwriters a 30-day option to purchase up to an additional 1,102,941 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on April 27, 2021, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a corporate deal team led by Bay Area partner Brian Cuneo and San Diego counsel Christopher Geissinger, with San Diego associate Michael Johnson, and Bay Area associate Natalie Robertson. Advice was also provided on intellectual property matters by Bay Area partner Christopher Hazuka, with San Diego associate Robert Yeh, and New York associate David Suh; on tax matters by Bay Area partner Grace Lee, with Bay Area associate Derek Berry; on regulatory matters by Washington, D.C. partner Elizabeth Richards, with Bay Area counsel Betty Pang, Washington, D.C. associate Chad Jennings, and San Diego associate Kiera Murphy; and on compensation and benefits matters by Bay Area partner Ashley Wagner, with Bay Area associate Erik Ward.