Latham & Watkins Advises on Rallybio’s US$50 Million Public Offering

Rallybio Corporation (Rallybio) (Nasdaq: RLYB), a clinical-stage biotechnology company, has announced the pricing of an underwritten public offering of 5,000,001 shares of its common stock at a price to the public of US$6 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to an aggregate of 3,333,388 shares of its common stock at a price of US$5.9999 per pre-funded warrant, which represents the per share public offering price for the common stock less the US$0.0001 per share exercise price for each such pre-funded warrant. All of the shares and pre-funded warrants are being offered by Rallybio. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Rallybio, are expected to be approximately US$50 million. The offering is expected to close on November 15, 2022, subject to the satisfaction of customary closing conditions. In addition, Rallybio has granted the underwriters a 30-day option to purchase up to an additional 1,250,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Nathan Ajiashvili and Alison Haggerty, with associates Danny Shulman, Stacy Hwang, Akina Newbraugh, and Yulong Li.