Akouos Announces Pricing of Initial Public Offering
Akouos has priced its initial public offering of 12,500,000 shares at $17.00 per share, totaling gross proceeds of $212.5 million before fees. The offering is set to close around June 30, 2020, pending customary conditions. Additionally, the underwriters have an option to purchase 1,875,000 more shares. Trading on the Nasdaq under the ticker symbol AKUS begins on June 26, 2020. BofA Securities, Cowen, and Piper Sandler are leading the offering. Akouos focuses on gene therapies for disabling hearing loss, leveraging a proprietary adeno-associated viral vector platform.
- Initial public offering priced at $17.00 per share, raising $212.5 million.
- Trading on Nasdaq under the symbol AKUS is set to commence soon.
- Possible dilution of shares with the underwriters' option to purchase additional shares.
BOSTON, June 25, 2020 (GLOBE NEWSWIRE) -- Akouos, Inc. (“Akouos”) (Nasdaq: AKUS), a precision genetic medicine company dedicated to developing gene therapies with the potential to restore, improve, and preserve high-acuity physiologic hearing for people worldwide who live with disabling hearing loss, today announced the pricing of its initial public offering of 12,500,000 shares of common stock at a public offering price of
Akouos’ common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “AKUS” on June 26, 2020.
BofA Securities, Cowen and Piper Sandler are acting as joint book-running managers for the offering. BTIG is acting as lead manager for the offering.
A registration statement relating to the offering of these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on June 25, 2020. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. The securities referred to in this release are to be offered only by means of a prospectus. A preliminary prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. When available, a copy of the final prospectus relating to the offering may be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at (800) 747-3924 or via email at prospectus@psc.com.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Akouos
Akouos is a precision genetic medicine company dedicated to developing gene therapies with the potential to restore, improve, and preserve high-acuity physiologic hearing for people worldwide who live with disabling hearing loss. Leveraging its precision genetic medicine platform that incorporates a proprietary adeno-associated viral (AAV) vector library and a novel delivery approach, Akouos is focused on developing precision therapies for forms of sensorineural hearing loss. Headquartered in Boston, Akouos was founded in 2016 by leaders in the fields of neurotology, genetics, inner ear drug delivery and AAV gene therapy.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements”. These statements include, but are not limited to, statements relating to the expected trading commencement and the closing date. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms of the offering or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus that forms a part of the effective registration statement filed with the SEC. Any forward-looking statements contained in this press release are based on the current expectations of Akouos’ management team and speak only as of the date hereof, and Akouos specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact
Media:
Katie Engleman, 1AB
katie@1abmedia.com
Investors:
Courtney Turiano, Stern Investor Relations
Courtney.Turiano@sternir.com
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