Allakos Completes $402.5 Million Common Stock Follow-On Offering
08.09.19
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Simpson Thacher represented Allakos Inc. (the “Company”) in its offering of $402.5 million of shares of common stock in an underwritten public offering. During the marketing the offering size was upsized from its original target of $150 million and the per share price moved from $31 to $77. As part of the offering, joint bookrunning managers Goldman Sachs & Co. LLC and Jefferies LLC exercised their option to purchase additional shares of the Company’s common stock, increasing the offering from $350 million to $402.5 million. The Company intends to use the net proceeds from the offering for general corporate purposes.
The Company is a clinical stage biotechnology company developing AK002, its wholly owned monoclonal antibody, for the treatment of various eosinophil and mast cell related diseases.
The Simpson Thacher team included Kevin Kennedy, Karen Reyes, Jeremy Bethel and Adam Spaulding (Capital Markets); and Jonathan Cantor (Tax).