RNTX · Rein Therapeutics Inc.

This $50 million public equity offering represents a pivotal capital event for Rein Therapeutics, directly enabling advancement of its lead clinical asset, LTI-03, in idiopathic pulmonary fibrosis. The transaction was executed under a definitive Underwriting Agreement with Konik Capital Partners, LLC as sole book-running manager, and closed on May 4, 2026 — the same day as the filing — confirming immediate execution and liquidity impact. With gross proceeds of $50 million and net proceeds of $46.1 million, the Company gains substantial runway: management states these funds, combined with existing cash, are expected to support operations into 2028. Critically, the proceeds are earmarked to fully fund the ongoing Phase 2 trial of LTI-03 through completion — de-risking near-term clinical execution and reducing reliance on future financing. The structure includes customary underwriter incentives: a 15% overallotment option and warrants representing 3% of total shares sold, both priced above the public offering price and subject to FINRA-mandated lock-ups. Additionally, the concurrent Bios Partners letter agreement resolves a near-term governance constraint — deferring conversion of Series X Preferred Stock — by exchanging warrants for contractual forbearance, thereby avoiding an immediate need to amend the Certificate of Incorporation to increase authorized common stock. This dual-agreement approach signals proactive capital structure management ahead of clinical milestones. While dilutive, the offering strengthens the balance sheet without debt or near-term repayment obligations, positioning the Company to execute its orphan pulmonary and fibrosis strategy with greater financial autonomy.