Allakos Completes $287.5 Million Common Stock Follow-On Offering
11.02.20
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Simpson Thacher represented Allakos Inc. (the “Company”) in its offering of $287.5 million of shares of common stock in an underwritten public offering, resulting in approximately $270.9 million in net proceeds to the Company. As part of the offering, joint book-running managers Jefferies LLC, BofA Securities, Inc. and SVB Leerink LLC exercised their option to purchase additional shares of the Company’s common stock, increasing the offering from $250 million to $287.5 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 Lirentelimab (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 and Estell Lee (Capital Markets); and Andrew Purcell and Jonathan Cantor (Tax).