Aligos Therapeutics Announces Pricing of Initial Public Offering

Rhea-AI Summary

Aligos Therapeutics, Inc. (Nasdaq: ALGS) has priced its initial public offering of 10 million shares at $15.00 each, aiming for gross proceeds of approximately $150 million. The underwriters have a 30-day option for an additional 1.5 million shares. The common stock will commence trading on Nasdaq on October 16, 2020, with the offering expected to close on October 20, 2020, pending customary conditions. J.P. Morgan, Jefferies, and Piper Sandler are managing the offering.

Positive

• Initial public offering priced at $15.00 per share, raising approximately $150 million.
• Underwriters' option to purchase up to 1.5 million additional shares.
• Common stock to begin trading on Nasdaq, enhancing visibility.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (Nasdaq: ALGS) today announced the pricing of its initial public offering of 10,000,000 shares of its common stock at a public offering price of $15.00 per share. In addition, Aligos has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the initial public offering price. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Aligos, are expected to be approximately $150.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. Aligos’ common stock is expected to begin trading on the Nasdaq Global Select Market on October 16, 2020, under the ticker symbol “ALGS.” The offering is expected to close on October 20, 2020, subject to customary closing conditions.

J.P. Morgan, Jefferies and Piper Sandler are acting as the joint book-running managers for the offering. Cantor is acting as a lead manager for the offering.

A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on October 15, 2020. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmorgan.com or by telephone at (866) 803-9204, or from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@Jefferies.com, or from Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Aligos

Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of viral infections and liver diseases. Aligos is focused on the development of targeted antiviral therapies for chronic hepatitis B (CHB) and coronaviruses as well as leveraging its expertise in liver diseases to create targeted therapeutics for nonalcoholic steatohepatitis (NASH). Aligos’ strategy is to harness the deep expertise and decades of drug development experience its workforce has in liver disease, particularly viral hepatitis, to rapidly advance its pipeline of potentially best-in-class molecules.

Media Contact
Amy Jobe, Ph.D.
LifeSci Communications
+1 315 879 8192
ajobe@lifescicomms.com

Investor Contact
Corey Davis, Ph.D.
LifeSci Advisors
+1 212 915 2577
cdavis@lifesciadvisors.com

FAQ

What is the share price for Aligos Therapeutics' IPO?

The share price for Aligos Therapeutics' initial public offering is set at $15.00 per share.

How much capital is Aligos expected to raise from its IPO?

Aligos is expected to raise approximately $150 million from its initial public offering.

When will Aligos Therapeutics' stock start trading?

Aligos Therapeutics' common stock is expected to start trading on the Nasdaq on October 16, 2020.

What is the ticker symbol for Aligos Therapeutics on Nasdaq?

The ticker symbol for Aligos Therapeutics on Nasdaq is 'ALGS.'

When is the expected closing date for the Aligos IPO?

The expected closing date for the Aligos IPO is October 20, 2020.