Rezolute Secures $90 Million in Public Offering to Advance Rare Disease Therapies

• Rezolute, Inc. has priced an underwritten public offering of common stock and pre-funded warrants at $3.25 per share, expected to generate approximately $90 million in gross proceeds.
• The offering attracted significant participation from notable investors including Federated Hermes Kaufmann Funds, Blackstone Multi-Asset Investing, and Great Point Partners, with closing anticipated on April 24, 2025.
• Proceeds will support Rezolute's research and development initiatives for novel therapies targeting serious rare diseases, along with general corporate expenses and working capital needs.

Rezolute, Inc. (Nasdaq: RZLT), a late-stage biopharmaceutical company focused on developing transformative therapies for serious rare diseases, has successfully priced an underwritten public offering expected to generate approximately $90 million in gross proceeds before deducting underwriting discounts, commissions, and other expenses.

The New York-based company announced on April 23, 2025, that it will issue 20,786,923 shares of common stock at $3.25 per share. Additionally, certain investors will receive pre-funded warrants to purchase up to 6,905,385 shares at $3.2490 per warrant, representing the offering price minus a nominal $0.001 exercise price per share.

The offering, priced at-the-market under Nasdaq rules, has attracted substantial interest from both new and existing investors. Notable participants include Federated Hermes Kaufmann Funds, Blackstone Multi-Asset Investing, Great Point Partners, Marshall Wace, Woodline Partners LP, Nantahala Capital, Squadron Capital Management, and select mutual funds.

Financial Structure and Timeline

Rezolute has granted underwriters a 30-day option to purchase up to an additional 4,153,846 shares at the offering price, less underwriting discounts and commissions. The transaction is expected to close on or about April 24, 2025, subject to customary closing conditions.

Guggenheim Securities is serving as the sole book-running manager for the offering, with BTIG, H.C. Wainwright & Co., and Jones acting as lead managers. Craig-Hallum and Maxim Group LLC are participating as co-managers, while WG Partners LLP is providing financial advisory services.

Strategic Use of Proceeds

The company intends to allocate the net proceeds toward three primary areas:

1. Research and development initiatives for its rare disease therapeutic pipeline
2. General corporate expenses
3. Working capital needs

This capital infusion comes at a critical time for Rezolute as it advances its portfolio of novel therapies targeting serious rare diseases with significant unmet medical needs.

Market Context

The successful pricing of this offering demonstrates continued investor confidence in Rezolute's therapeutic approach and development strategy, despite the challenging funding environment for biotech companies. The participation of established investment firms suggests strong institutional support for the company's clinical programs and overall business model.

For Rezolute, this financing provides important runway to progress its late-stage development programs through critical milestones. The company's focus on transformative therapies for rare diseases positions it in a specialized market segment with potential for significant clinical impact and commercial opportunity.

As the transaction moves toward closing, industry observers will be watching closely for additional details on how the company plans to allocate these resources across its development pipeline and which programs may receive prioritization in the coming months.