Alector Announces Closing of Public Offering
20 January 2024 - 1:20AM
Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology
company pioneering immuno-neurology, today announced the closing of
its underwritten public offering of shares of its common stock.
Alector sold 10,869,566 shares of its common stock in the offering.
Alector has granted the underwriter a 30-day option to purchase up
to an additional 1,630,434 shares of its common stock. The gross
proceeds to Alector from the offering, before deducting
underwriting discounts and commissions and estimated offering
expenses, are approximately $75 million.
Cantor Fitzgerald & Co. acted as sole
book-running manager for the offering.
The offering was made pursuant to a shelf
registration statement on Form S-3 (File No. 333- 270126) that was
previously filed with and subsequently declared effective by the
Securities and Exchange Commission (“SEC”) on May 1, 2023. The
offering was made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. The final prospectus supplement and accompanying
prospectus relating to the offering have been filed with the SEC
and are available on the SEC’s website at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may be obtained
from: Cantor Fitzgerald & Co., Attention: Capital Markets,
110 East 59th Street, 6th Floor, New York, NY 10022,
or by e-mail at prospectus@cantor.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of, these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About AlectorAlector is a
clinical-stage biotechnology company pioneering immuno-neurology, a
novel therapeutic approach for the treatment of neurodegenerative
diseases. Immuno-neurology targets immune dysfunction as a
root cause of multiple pathologies that are drivers of degenerative
brain disorders. Alector has discovered and is developing a broad
portfolio of innate immune system programs, designed to
functionally repair genetic mutations that cause dysfunction of the
brain’s immune system and enable rejuvenated immune cells to
counteract emerging brain pathologies. Alector’s immuno-neurology
product candidates are supported by biomarkers and seek to treat
indications, including Alzheimer’s disease and genetically defined
frontotemporal dementia patient populations. Alector is
headquartered in South San Francisco, California.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this press release include, but are
not limited to, statements regarding Alector’s expectations
regarding the gross proceeds from the offering. Such statements are
subject to numerous risks and uncertainties that may cause actual
events or results to differ materially from current expectations
and beliefs, including but not limited to risks and uncertainties
related to market conditions and Alector and its business as set
forth in Alector’s filings with the SEC, including the Company’s
Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, as
well as the other documents Alector files from time to time with
the SEC. These documents contain and identify important factors
that could cause the actual results for Alector to differ
materially from those contained in Alector’s forward-looking
statements. Any forward-looking statements contained in this press
release speak only as of the date hereof, and Alector specifically
disclaims any obligation to update any forward-looking statement,
except as required by law.
Alector Contacts:
AlectorKatie Hogan 202-549-0557katie.hogan@alector.com
1AB (media)Dan Budwick973-271-6085 dan@1abmedia.com
Argot Partners (investors)Laura Perry
212.600.1902alector@argotpartners.com
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