Annexon raises ~$125M via public offering of 25M shares and 18.4M pre-funded warrants at $2.88

Annexon, Inc.

Offering includes 25,035,000 common shares at $2.88/share and 18,379,861 pre-funded warrants at $2.879 each.
Gross proceeds expected to be ~$125M before underwriting discounts and expenses.
Underwriters: Jefferies LLC and Cowen and Company, LLC; closing expected December 26, 2023.
Pre-funded warrants exercisable immediately but subject to 9.99% beneficial ownership limitation (waivable to 19.99%).
Offering conducted under shelf registration statement on Form S-3 (File No. 333-258863).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Annexon, Inc. entered into Underwriting Agreement with Jefferies LLC and Cowen and Company, LLC valued at $125,000,000 gross proceeds; 25,035,000 shares of common stock at $2.880 per share and pre-funded wa (effective 2023-12-20).

Action: entry
Agreement: underwriting
Counterparty: Jefferies LLC and Cowen and Company, LLC
Value: $125,000,000 gross proceeds; 25,035,000 shares of common stock at $2.880 per share and pre-funded wa
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, Annexon, Inc. (the “ Company ’) 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 and, in lieu of Common Stock, certain investors were issued pre-funded warrants to purchase an aggregate of 18,379,861 shares of Common Stock at a price of $2.879 (the “ Pre-Funded Warrants ”), which represents the per share price for the Shares less the $0.001 per share exercise price for each Pre-Funded Warrant (the “ Offering ”).

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

Annexon, Inc. entered into Form of Pre-Funded Warrant with Certain investors valued at Pre-funded warrants to purchase up to 18,379,861 shares of common stock at $0.001 exercise price per (effective 2023-12-20).

Action: entry
Agreement: equity purchase
Counterparty: Certain investors
Value: Pre-funded warrants to purchase up to 18,379,861 shares of common stock at $0.001 exercise price per
Effective: 2023-12-20

Exact text from the filing

in lieu of Common Stock, certain investors were issued pre-funded warrants to purchase an aggregate of 18,379,861 shares of Common Stock at a price of $2.879 (the “ Pre-Funded Warrants ”), which represents the per share price for the Shares less the $0.001 per share exercise price for each Pre-Funded Warrant

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Annexon, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-302246

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