Apellis exchanges $75.6M of convertible notes for common stock shares

Apellis Pharmaceuticals, Inc.

Exchanged ~$65.9M principal for 2,036,886 shares; ~$9.7M for 195,809 shares plus additional based on VWAP.
Transactions expected to close August 1, 2022, subject to customary closing conditions.
Shares issued to QIBs and institutional accredited investors under Section 4(a)(2) exemption.
Debt reduction strengthens balance sheet but dilutes existing shareholders by ~2.2M shares.

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