Deal Details

Reneo Pharmaceuticals, Inc. (“Reneo”) (NASDAQ: RPHM) recently completed an underwritten public offering of common stock, including the full exercise of the underwriters’ option to purchase additional shares of common stock, for total gross proceeds of $63.3 million.

The offering consisted of 7,906,250 shares of common stock at a public offering price of $8.00 per share, which includes 1,031,250 shares of common stock pursuant to the underwriters’ option to purchase additional shares.

In addition to the shares of common stock being sold in the underwritten public offering, Reneo also entered into a securities purchase agreement with Abingworth Bioventures 8 LP (“Abingworth”), pursuant to which Abingworth agreed to purchase Reneo’s shares of common stock at the public offering price, for total gross proceeds of approximately $5.0 million, in a concurrent private placement.

Baird acted as the lead manager for the underwritten public offering and as a placement agent for the concurrent private placement.