Relay Therapeutics Announces $296.8 Million Public Offering of Common Stock
On May 20, 2026, Relay Therapeutics, Inc. entered into an underwriting agreement with Jefferies LLC and TD Securities (USA) LLC for a public offering of 22,916,667 shares of common stock at a price of $12.00 per share. The underwriters were granted a 30-day option to purchase up to an additional 3,437,500 shares, which they exercised in full on May 21, 2026. The company estimates total net proceeds from the offering to be approximately $296.8 million after deducting underwriting discounts, commissions, and other estimated expenses. The offering is expected to close on May 22, 2026, subject to customary closing conditions. The proceeds are intended for general corporate purposes, which may include advancing the company's clinical pipeline, including its PI3KΞ± and NRAS development programs. The offering was conducted under an existing shelf registration statement on Form S-3ASR. Relay Therapeutics also provided customary representations and warranties regarding its financial statements, internal controls, and regulatory compliance.