Rain Therapeutics Merges with Pathos AI Subsidiary

Rain Therapeutics (RAIN) has released an update to notify the public and investors about its asset transaction finalization.

Rain Oncology Inc. completed a merger with Pathos AI, Inc. on January 26, 2024, after WK Merger Sub, a subsidiary of Pathos AI, carried out a successful tender offer for all outstanding shares of Rain. Shareholders received $1.16 in cash and one contingent value right per share as the offer price. This merger proceeded without the need for a stockholder vote and resulted in Rain becoming a wholly owned subsidiary of Pathos AI. Following the merger, all stock options and restricted stock units under the company’s stock plans were cancelled, with restricted stock units vesting and being converted into cash and contingent value rights.

For further insights into RAIN financials, check out TipRanks’ Financials page.