Akero Therapeutics Prices Public Offering Of 11M Common Stock At $29/Share

Author: Benzinga Newsdesk | March 06, 2024 03:16am

The comnay announced the pricing of an underwritten public offering of 11,000,000 shares of its common stock at a public offering price of $29.00 per share. All of the shares in the offering are being offered by Akero Therapeutics. In addition, Akero Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $319.0 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on or about March 8, 2024, subject to the satisfaction of customary closing conditions.

Posted In: AKRO