Annexon prices $125M underwritten offering of common stock and pre-funded warrants

Annexon, Inc.

Gross proceeds expected ~$125M from 25,035,000 shares at $2.880 and 18,379,861 pre-funded warrants at $2.879.
Closing expected December 26, 2023; Jefferies and TD Cowen act as joint book-running managers.
Pre-funded warrants exercisable immediately; holder limited to 9.99% beneficial ownership unless increased.
Offering dilutes existing shareholders; shares and warrants represent ~43M shares if fully exercised.

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

Annexon, Inc. entered into Underwriting Agreement with Jefferies LLC and Cowen and Company, LLC valued at approximately $125.0 million (effective 2023-12-20).

Action: entry
Agreement: underwriting
Counterparty: Jefferies LLC and Cowen and Company, LLC
Value: approximately $125.0 million
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, Annexon, Inc. (the “C ompan y’) entered into an underwriting agreement (“ Underwriting Agreement ”) with Jefferies LLC and Cowen and Company, LLC (the “ Underwriters ”), to issue and sell 25,035,000 shares (the “ Shares ”) of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”) at a price of $2.880 per share

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Annexon, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-301190

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