An amended beneficial ownership statement covering Class A common stock of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) was filed on November 12, 2026, reflecting positions as of September 30, 2026, by eight reporting persons affiliated with Invus Public Equities and related entities.

Key Highlights

  • Lead individual: Raymond Debbane reported sole voting and dispositive power over 12,641,025 shares, representing 9.99% of Rani Therapeutics' Class A common stock.
  • Invus Public Equities group: Invus Public Equities, L.P., Invus Public Equities Advisors, LLC, Invus Global Management, LLC, and Siren, L.L.C. each reported beneficial ownership of 11,086,246 shares, or 8.9% of the class.
  • Avicenna entities: Avicenna Life Sci Master Fund LP, Avicenna Life Sci Master GP LLC, and Ulys, L.L.C. each reported beneficial ownership of 1,554,779 shares, representing 1.3% of the class.
  • No shared power: All eight reporting persons disclosed zero shared voting power and zero shared dispositive power.
  • Event date: The date of event requiring the filing was September 30, 2026, per the statement.
  • Security covered: Class A common stock, par value $0.0001 per share, CUSIP 753018100.

Invus Entities and Raymond Debbane Disclose Holdings in Rani Therapeutics Class A Shares

According to the filing, eight reporting persons submitted this amended statement in connection with their beneficial ownership of Class A common stock of Rani Therapeutics Holdings, Inc., a biopharmaceutical company headquartered at 47709 Fremont Blvd, Fremont, CA 94538. The filing is Amendment No. 1 to a prior Schedule 13G, with the triggering event dated September 30, 2026.

The filing identifies Raymond Debbane, a citizen of Panama, as the individual reporting person. He reported sole voting power and sole dispositive power over 12,641,025 shares, amounting to 9.99% of the outstanding Class A common stock, according to the statement. No shared voting or dispositive power was reported. Debbane's address of record is listed as 750 Lexington Avenue, 30th Floor, New York, NY 10022, the same address shared by all other reporting persons in the filing.

The Invus Public Equities cluster, consisting of Invus Public Equities, L.P. (organized in Bermuda), Invus Public Equities Advisors, LLC (Delaware), Invus Global Management, LLC (Delaware), and Siren, L.L.C. (Delaware), each reported identical positions of 11,086,246 shares, or 8.9% of the class, with all voting and dispositive power held solely and none shared. Separately, Avicenna Life Sci Master Fund LP (Cayman Islands), Avicenna Life Sci Master GP LLC (Delaware), and Ulys, L.L.C. (Delaware) each reported 1,554,779 shares, equal to 1.3% of the class, also with sole and no shared power across all categories. The filing notes that Item 4 contains further description of the information reported in the ownership rows for each reporting person.

What Was Disclosed

Eight affiliated reporting persons, led by Raymond Debbane and entities connected to the Invus Group, disclosed beneficial ownership positions in Rani Therapeutics Holdings, Inc. Class A common stock as of September 30, 2026, ranging from 1.3% to 9.99% of the outstanding class.