Akoya Biosciences Announces Pricing of Initial Public Offering

Rhea-AI Summary

Akoya Biosciences has announced the pricing of its initial public offering (IPO) of 6,580,000 shares at $20.00 each, raising approximately $131.6 million before expenses. The offering includes a 30-day option for underwriters to purchase up to 987,000 additional shares. Trading on the Nasdaq under the ticker symbol 'AKYA' is expected to commence on April 16, 2021, with closure anticipated by April 20, 2021, pending usual conditions. J.P. Morgan, Morgan Stanley, Piper Sandler, and Canaccord Genuity are the joint book-running managers for this offering.

Positive

• IPO priced at $20.00 per share, raising about $131.6 million.
• Underwriters have a 30-day option to purchase an additional 987,000 shares, potentially increasing total funds raised.
• Trading on Nasdaq expected to enhance visibility and liquidity for investors.

Negative

• Potential dilution of existing shares if underwriters exercise their option to purchase additional shares.

MARLBOROUGH, Mass., April 15, 2021 (GLOBE NEWSWIRE) -- Akoya Biosciences, Inc. (Nasdaq: AKYA) (“Akoya”), The Spatial Biology Company®, today announced the pricing of its initial public offering of 6,580,000 shares of its common stock at a price of $20.00 per share, for gross proceeds of $131.6 million, before underwriting discounts and commissions and offering expenses payable by Akoya. Akoya has also granted the underwriters a 30-day option to purchase up to an additional 987,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares are being offered and sold by Akoya. The shares are expected to begin trading on the Nasdaq Global Select Market on April 16, 2021 under the ticker symbol “AKYA.” The offering is expected to close on April 20, 2021, subject to the satisfaction of customary closing conditions.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Piper Sandler &Co., and Canaccord Genuity LLC are acting as Joint Book-Running Managers for the offering.

The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone: (800) 747-3924, or via email: prospectus@psc.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 15, 2021. A copy of the registration statement may be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Akoya Biosciences
As The Spatial Biology Company®, Akoya Biosciences’ mission is to bring context to the world of biology and human health through the power of spatial phenotyping. The company offers comprehensive single-cell imaging solutions that allow researchers to phenotype cells with spatial context and visualize how they organize and interact to influence disease progression and treatment response. Akoya offers two distinct solutions, the CODEX® and Phenoptics™ platforms, to serve the diverse needs of researchers across discovery, translational and clinical research.

Investor Contact:
David Deuchler
Gilmartin Group LLC
investors@akoyabio.com

Media Contact:
Michelle Linn
Bioscribe, Inc.
774-696-3803
michelle@bioscribe.com

FAQ

What is the initial public offering price for Akoya Biosciences' shares?

The initial public offering price for Akoya Biosciences' shares is $20.00 per share.

How much money does Akoya Biosciences expect to raise from its IPO?

Akoya Biosciences expects to raise approximately $131.6 million from its IPO.

When will Akoya Biosciences' shares begin trading on Nasdaq?

Akoya Biosciences' shares are expected to begin trading on Nasdaq on April 16, 2021.

What is the ticker symbol for Akoya Biosciences on the Nasdaq?

The ticker symbol for Akoya Biosciences on the Nasdaq is 'AKYA'.

When is the expected closing date for the IPO of Akoya Biosciences?

The expected closing date for the IPO of Akoya Biosciences is April 20, 2021.