RAPT Therapeutics Acquired by GSK Subsidiary, Shares Delisted from Nasdaq
summarizeSummary
RAPT Therapeutics has been fully acquired by GSK's subsidiary, Redrose Acquisition Co., resulting in the delisting of its shares from Nasdaq and a complete change in control and management.
check_boxKey Events
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Acquisition Completed
The merger of RAPT Therapeutics, Inc. with Redrose Acquisition Co., a wholly-owned subsidiary of GlaxoSmithKline LLC (GSK), has been completed, making RAPT Therapeutics a direct wholly-owned subsidiary of GSK.
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Shares Delisted
RAPT Therapeutics has requested The Nasdaq Stock Market LLC to halt trading and delist its common stock, effective before the opening of trading on March 3, 2026, following the merger's consummation.
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Change in Control and Management
A change in control of the company occurred, with all previous directors resigning and new directors appointed. All incumbent officers were removed, and new officers were appointed by the acquiring entity.
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Share Conversion
Each outstanding share of RAPT Therapeutics common stock (not previously tendered) was converted into the right to receive the Offer Price of $58.00 per share in cash.
auto_awesomeAnalysis
This 8-K filing confirms the definitive completion of the acquisition of RAPT Therapeutics by GlaxoSmithKline LLC (GSK) through its subsidiary, Redrose Acquisition Co. The successful tender offer, which saw 93.36% of shares tendered at $58.00 per share, has led to RAPT Therapeutics becoming a direct wholly-owned subsidiary of GSK. This marks the end of RAPT Therapeutics as an independent publicly traded company, with its shares being delisted from Nasdaq. Investors holding RAPT shares will receive $58.00 per share in cash. The complete overhaul of the board and executive team, along with the amendment of the company's charter to reflect its new private status, underscores the finality of this corporate action. This event fundamentally alters the investment thesis for RAPT Therapeutics, as the company's public trading existence has concluded.
At the time of this filing, RAPT was trading at $58.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $5.67 to $58.02. This filing was assessed with negative market sentiment and an importance score of 10 out of 10.