Apellis exchanges $198.6M in convertible notes for common stock; closing July 23

Apellis Pharmaceuticals, Inc.

Agreed to exchange ~$198.6M principal of 3.500% Convertible Senior Notes due 2026 for shares.
Fixed issuance of 4,530,431 shares (22.8065 per $1,000 principal) plus additional variable shares tied to VWAP.
Exchange expected to close July 23, 2021, subject to customary conditions.
Shares issued in private placement to QIBs and institutional accredited investors.

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