Monitor whether the concurrent convertible note offering closes, as this could add significant future dilution. The substantial dilution for new investors suggests caution, though the capital infusion strengthens the company's R&D runway.
Price Chart
Executive Summary
Revolution Medicines is raising $1.44 billion through a public offering of 10.56 million common shares at $142.00 per share, alongside a concurrent $500 million convertible note offering. The proceeds will fund R&D and general corporate purposes.
Key Facts
- Offering 10,563,381 shares of common stock at $142.00 per share, raising $1.44 billion in gross proceeds
- Concurrent offering of $500 million in 0.50% convertible senior notes due 2033
- Net proceeds estimated at $1.435 billion after underwriting discounts and expenses
- Proceeds to be used for R&D, potential commercialization, general corporate purposes, and possible acquisitions
- Significant dilution for new investors: $127.57 per share based on $7.92 book value vs. $142.00 offering price
Financial Impact
$1.44 billion raised from equity offering and $500 million from convertible notes
Risk Factors
- Immediate and substantial dilution for new investors
- Potential for additional dilution from the concurrent $500 million convertible note offering
- Future sales from the $1 billion ATM program could pressure stock price
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-157273 |
| Document: d93698dexfilingfees.htm | 0001193125-26-157273 |
| Document: 0001193125-26-157273-index-headers.html | 0001193125-26-157273 |
| Document: 0001193125-26-157273-index.html | 0001193125-26-157273 |
| Document: 0001193125-26-157273.txt | 0001193125-26-157273 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Apr 17, 2026 24w ago | 8-K | $1.88 $9.07 | ▼ −382.45% | ▼ −375.67% | — |
Apr 16, 2026 24w ago | 8-K | $1.88 $8.98 | ▲ +377.66% | ▲ +371.52% | — |
Apr 15, 2026 24w ago | 424B5 | $1.88 $8.96 | ▲ +376.60% | ▲ +369.55% | — |
Apr 15, 2026 24w ago | 424B5 | $1.88 $8.96 | ▼ −376.60% | ▼ −369.55% | — |
Apr 15, 2026 24w ago | 144 | $1.88 $8.96 | ▼ −376.60% | ▼ −369.55% | — |
Apr 13, 2026 24w ago | 424B5 | $1.88 $9.82 | ▼ −422.13% | ▼ −413.61% | — |
Apr 13, 2026 24w ago | 424B5 | $1.88 $9.82 | ▼ −422.13% | ▼ −413.61% | — |
Apr 13, 2026 24w ago | 8-K | $1.88 $9.66 | ▲ +413.83% | ▲ +404.91% | — |
US Market Status
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