SCHEDULE 13G 0001535264 XXXXXXXX LIVE Class A Common Stock, Par Value $.0001 12/31/2025 0001856725 Rani Therapeutics Holdings, Inc. 753018100 2051 RINGWOOD AVENUE SAN JOSE CA 95131 Rule 13d-1(b) AWM Investment Company, Inc. DE 9745343.00 0.00 9745343.00 0.00 9745343.00 9.9 IA AWM Investment Company, Inc., a Delaware Corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P. (CAYMAN), Special Situations Fund III QP, L.P. (SSFQP) and Special Situations Life Sciences Fund, L.P. (SSLS). As the investment adviser to the Funds, AWM holds sole voting and investment power over 6,500,000 Common Shares, 37,500,000 Pre-Funded Warrants* and 31,000,000 Warrants* The Warrants described herein may only be exercised to the extent that the total number of Common Shares then beneficially owned does not exceed 9.99% of the outstanding shares. The number of shares beneficially owned reported above is calculated using 9.99% of the outstanding shares. Rani Therapeutics Holdings, Inc. 2051 RINGWOOD AVENUE, SAN JOSE, CALIFORNIA, 95131 The person filing this report is AWM Investment Company, Inc., a Delaware corporation (AWM), which is the investment adviser to Special Situations Cayman Fund, L.P., a Cayman Islands Limited Partnership (CAYMAN), Special Situations Fund III QP, L.P., a Delaware limited partnership (SSFQP) and Special Situations Life Sciences Fund, L.P., a Delaware limited partnership (SSLS). The principal business of each Fund is to invest in equity and equity-related securities and other securities of any kind or nature. David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are members of: SSCayman, L.L.C., a Delaware limited liability company (SSCAY), the general partner of CAYMAN; MGP Advisers Limited Partnership, a Delaware limited partnership (MGP), the general partner of SSFQP; and LS Advisers, L.L.C., a New York limited liability company (LS). Greenhouse and Stettner are also controlling principals of AWM. 527 Madison Avenue, Suite 2600 New York, NY 10022 AWM is a Delaware Corporation Y 9,745,343 9.9 AWM Investment Company, Inc., a Delaware Corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P. (CAYMAN), Special Situations Fund III QP, L.P. (SSFQP and Special Situations Life Sciences Fund, L.P. (SSLS). As the investment adviser to the Funds, AWM holds sole voting power over 1,145,491 Common Shares 2,158,809 Pre-Funded Warrants* and 3,304,300 Warrants* held by CAYMAN, 4,054,509 Common Shares, 7,641,191 Pre-Funded Warrants* and 11,695,700 Warrants* held by SSFQP and 1,300,000 Common Shares, 2,450,000 Pre-Funded Warrants and 3,750,000 Warrants* held by SSLS. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP and LS, the general partner of SSLS. Greenhouse and Stettner are also controlling principals of AWM. The Warrants described herein may only be exercised to the extent that the total number of Common Shares then beneficially owned does not exceed 9.99% of the outstanding shares. The number of shares beneficially owned reported above is calculated using 9.99% of the outstanding shares. 0 AWM Investment Company, Inc., a Delaware Corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P. (CAYMAN), Special Situations Fund III QP, L.P. (SSFQP and Special Situations Life Sciences Fund, L.P. (SSLS). As the investment adviser to the Funds, AWM holds sole investment power over 1,145,491 Common Shares 2,158,809 Pre-Funded Warrants* and 3,304,300 Warrants* held by CAYMAN, 4,054,509 Common Shares, 7,641,191 Pre-Funded Warrants* and 11,695,700 Warrants* held by SSFQP and 1,300,000 Common Shares, 2,450,000 Pre-Funded Warrants and 3,750,000 Warrants* held by SSLS. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP and LS, the general partner of SSLS. Greenhouse and Stettner are also controlling principals of AWM. The Warrants described herein may only be exercised to the extent that the total number of Common Shares then beneficially owned does not exceed 9.99% of the outstanding shares. The number of shares beneficially owned reported above is calculated using 9.99% of the outstanding shares. 0 Y N Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. AWM Investment Company, Inc. Adam Stettner 02/13/2026