Rakuten Medical files Form D for $8.97 million securities offering

Rakuten Medical, Inc., a Delaware corporation based in San Diego, filed a Form D notice with the Securities and Exchange Commission dated October 5, 2026, disclosing an exempt securities offering. The company was previously known as Rakuten Aspyrian, Inc. and Aspyrian Therapeutics, Inc.¹

The filing is a new notice, with a date of first sale listed as August 16, 2026.¹ The offering covers an option, warrant or other right to acquire another security.¹ The company claimed the Rule 506(b) exemption under Regulation D.¹

The total offering amount and the total amount sold were both $8,974,943, with $0 remaining to be sold.¹ A total of 14 investors had already put money into the offering.¹ The minimum investment accepted from any outside investor was $0.¹

The company reported $0 in sales commissions and $0 in finders' fees.¹ It also reported $0 in proceeds used for payments to executive officers, directors or promoters named in the filing.¹ The offering was not made in connection with a business combination transaction such as a merger or acquisition.¹ The company indicated it did not intend the offering to last more than one year.¹

Rakuten Medical declined to disclose its revenue range or aggregate net asset value in the filing.¹ The company identified its industry as biotechnology under the health care category.¹

The notice was signed electronically by Tiffany Piecewicz, listed as Secretary, on October 5, 2026.¹ The filing lists a lengthy roster of related persons, including executive officers and directors such as Maeda Minami, David Chao, Miguel Garcia-Guzman, Hiroshi Mikitani, Hiroshi Mori, Ken Takeshita, Christophe Weber, Nitin Nohria, Eiichi Kaga, Mazen Darwazeh, Abhijit Bhatia, Toshiaki Suzuki, Suzane San, Hiroyuki Kodama, Louise Chang, Amy Thorne, Anthony Manibusan and Hassan Danesi, all associated with the company's San Diego address.