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- Immediate Dilution of $127.57 Per Share (new) — New investors pay $142.00 per share but receive only $14.43 in net tangible book value per share, resulting in immediate dilution of $127.57 per share.
- Concurrent $500 Million Convertible Note Offering (new) — The company is adding $500 million in convertible debt, which could lead to further dilution if converted and increases financial leverage.
- 17,997,616 Outstanding Stock Options With Weighted-average Exercise Price of $30.45 (new) — A large option overhang exists with exercise prices far below the offering price, potentially causing significant future dilution.
Revolution Medicines prices $1.5B stock offering at $142/share, plus $500M convertible notes
Filed April 15, 2026 · ~1 min read
Key Changes
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Revolution Medicines is selling 10,563,381 shares at $142.00 per share, raising $1.5 billion gross, with net proceeds to the company of $1.4 billion.
The Offering verify on EDGAR → -
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Concurrently, the company is offering $500 million of 0.50% convertible senior notes due 2033, with net proceeds estimated at $486.8 million.
Use of Proceeds verify on EDGAR → -
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New investors face immediate dilution of $127.57 per share, as the as-adjusted net tangible book value per share is far below the offering price.
Dilution verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 2, 2026 · How we verify