Apellis closes exchange of $201.1M convertible notes for 5.99M common shares

Apellis Pharmaceuticals, Inc.

Exchanged $201.1M principal of 3.500% Convertible Senior Notes due 2026 for 5,992,217 common shares.
After exchange, approximately $192.7M principal amount of Notes remain outstanding with third parties.
Transaction closed on July 23, 2021; shares issued are unregistered and restricted.
Privately negotiated exchange reduces debt and dilutes existing equity by ~3% based on prior share count.

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