Apellis Pharmaceuticals Announces Pricing of Public Offering of Common Stock and Pre-Funded Warrants
23 February 2023 - 1:48PM
Apellis Pharmaceuticals, Inc., (Nasdaq:APLS), a global
biopharmaceutical company and leader in complement, today announced
the pricing of its underwritten public offering of 3,174,603 shares
of its common stock at a public offering price of $63.00 per share
and, in lieu of common stock to investors who so choose, pre-funded
warrants to purchase 2,380,956 shares of its common stock at a
public offering price of $62.9999 per pre-funded warrant, for total
gross proceeds of approximately $350 million, before deducting
underwriting discounts and commissions and offering expenses
payable by Apellis. The purchase price of each pre-funded warrant
equals the price per share at which the shares of common stock are
being sold in the offering, minus $0.0001. All of the shares and
pre-funded warrants in the offering are being sold by Apellis. The
offering is expected to close on February 27, 2023, subject to
customary closing conditions. In addition, Apellis has granted the
underwriters a 30-day option to purchase up to 833,333 additional
shares of its common stock at the public offering price, less the
underwriting discounts and commissions.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and
Evercore Group L.L.C. are acting as joint book-running managers for
the offering. Robert W. Baird & Co. Incorporated and Raymond
James & Associates, Inc. are acting as co-managers for the
offering.
The securities are being offered by Apellis pursuant to an
automatically effective shelf registration statement that was filed
with the Securities and Exchange Commission (“SEC”) on February 22,
2023. This offering is being made only by means of a prospectus and
prospectus supplement that form a part of the registration
statement. A preliminary prospectus supplement relating to and
describing the terms of the offering has been filed with the SEC
and may be obtained for free by visiting the SEC’s website at
www.sec.gov. A final prospectus supplement relating to the offering
will be filed with the SEC. When available, copies of the final
prospectus supplement and the accompanying prospectus may also be
obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, by telephone at 866-803-9204, or by email at
prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, NY
10282, or by telephone at (866) 471-2526, or by email at
prospectus-ny@ny.email.gs.com; or Evercore Group L.L.C., Attention:
Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York,
New York 10055, by telephone at (888) 474-0200, or by email at
ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy these securities, 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 ApellisApellis Pharmaceuticals, Inc. is a
global biopharmaceutical company that combines courageous science
and compassion to develop life-changing therapies for some of the
most challenging diseases patients face. We ushered in the first
new class of complement medicine in 15 years and now have two
approved medicines targeting C3. These include the first and only
therapy for geographic atrophy, a leading cause of blindness around
the world. With nearly a dozen clinical and pre-clinical programs
underway, we believe we have only begun to unlock the potential of
targeting C3 across many serious diseases.
Forward-Looking Statements
Statements in this press release about future expectations, plans
and prospects, as well as any other statements regarding matters
that are not historical facts, may constitute “forward-looking
statements” within the meaning of The Private Securities Litigation
Reform Act of 1995. These statements include, but are not limited
to, statements relating to the anticipated closing date of the
public offering. The words “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,”
“would” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all and other
factors discussed in the “Risk Factors” section of the preliminary
prospectus supplement filed with the SEC on February 22, 2023,
Apellis’ Annual Report on Form 10-K filed with the SEC on February
21, 2023, and the risks described in other filings that Apellis may
make with the SEC. Any forward-looking statements contained in this
press release speak only as of the date hereof, and Apellis
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Media Contact:Lissa
Pavlukmedia@apellis.com617.977.6764
Investor Contact: Meredith
Kaya meredith.kaya@apellis.com617.599.8178
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