Apellis prices $350M public offering of common stock and pre-funded warrants

Apellis Pharmaceuticals, Inc.

Offering of 3,174,603 shares at $63.00/share and pre-funded warrants for 2,380,956 shares at $62.9999/warrant.
Total gross proceeds ~$350M; net proceeds ~$333M (or ~$383M if underwriters' option exercised).
Underwriters granted 30-day option to purchase up to 833,333 additional shares.
Expected closing February 27, 2023; net proceeds to fund operations into Q1 2025.
J.P. Morgan, Goldman Sachs, and Evercore acting as joint book-running managers.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Apellis Pharmaceuticals, Inc. entered into Underwriting Agreement with J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Evercore Group L.L.C. valued at approximately $333.0 million (effective 2023-02-22).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Evercore Group L.L.C.
Value: approximately $333.0 million
Effective: 2023-02-22

Exact text from the filing

On February 22, 2023, Apellis Pharmaceuticals, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Evercore Group L.L.C., as representatives of the several underwriters (the “Underwriters”), relating to an underwritten public offering (the “Offering”) of 3,174,603 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and, in lieu of Common Stock to investors who so choose, pre-funded warrants (the “Pre-Funded Warrants”) to purchase 2,380,956 shares of Common Stock (the “Warrant Shares”).

View on SEC.gov

Browse all material agreements →

Apellis Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-047759

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.