---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-014238"
form_type: "8-K"
ticker: "ARDX"
cik: "0001437402"
company_name: "ARDELYX, INC."
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T10:40:19.013224+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ardelyx enters into $150M at-the-market equity offering agreement with Jefferies

## Summary
- ATM program allows Ardelyx to sell up to $150M of common stock through Jefferies over time.
- Shares will be issued under a new shelf registration statement (S-3) filed Jan 19, 2023, not yet effective.
- Jefferies will receive up to 3% commission on gross proceeds from any sales.
- Either party may terminate the agreement with 5 trading days' notice.
- No assurance of any sales; actual timing and pricing depend on market conditions.

## SEC filing metadata
- accession: 0001193125-23-014238
- form_type: 8-K
- ticker: ARDX
- cik: 0001437402
- company_name: ARDELYX, INC.
- filed_at: 2023-01-24T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437402/000119312523014238/0001193125-23-014238-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437402/000119312523014238/d402822d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-014238
- JSON: https://secwatch.observer/filing/0001193125-23-014238.json
- Plain text: https://secwatch.observer/filing/0001193125-23-014238.txt

## Key facts
- Material Agreements
  ARDELYX, INC. entered into Sales Agreement with Jefferies LLC valued at up to $150.0 million (effective 2023-01-18).
  - Action: entry
  - Agreement: atm program
  - Counterparty: Jefferies LLC
  - Value: up to $150.0 million
  - Effective: 2023-01-18
  source text: On January 18, 2023, Ardelyx, Inc. (the “Company”) entered into an Open Market Sale Agreement SM (the “Sales Agreement”) with Jefferies LLC (“Jefferies”), pursuant to which the Company may offer and sell shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $150.0 million from time to time, through an “at the market offering” program under which Jefferies will act as sales agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437402/000119312523014238/0001193125-23-014238-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.