Apellis Announces Closing of Previously Announced Exchanges of Approximately $126.1 Million in Principal Amount of Its 3.500% Convertible Senior Notes Due 2026 for Common Stock

Rhea-AI Summary

On January 26, 2021, Apellis Pharmaceuticals (Nasdaq:APLS) announced the successful completion of privately negotiated exchange transactions involving its 3.500% Convertible Senior Notes due 2026. Holders exchanged approximately $126.1 million of the Notes for 3,906,869 shares of common stock.

The shares issued are not registered under the Securities Act of 1933 and cannot be sold in the U.S. without proper registration or an exemption. Apellis remains focused on developing therapies for diseases linked to the complement cascade.

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• Successfully exchanged approximately $126.1 million of Convertible Senior Notes for common stock.
• Issued 3,906,869 shares of common stock, improving equity position.

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• None.

WALTHAM, Mass., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq:APLS), a global biopharmaceutical company and leader in targeted C3 therapies, today announced the closing of its previously announced privately negotiated exchange transactions (the “Exchange Transactions”) with certain holders of its 3.500% Convertible Senior Notes due 2026 issued in September 2019 (the “Notes”). In the Exchange Transactions, the holders exchanged approximately $126.1 million in aggregate principal amount of Notes and Apellis issued an aggregate of 3,906,869 shares of its common stock.

The shares of Apellis’ common stock issued in the exchanges were not registered under the Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and such other jurisdictions.

This press release does not constitute an offer to sell or a solicitation to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

About Apellis

Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that is committed to leveraging courageous science, creativity, and compassion to deliver life-changing therapies. Leaders in targeted C3 therapies, we aim to develop transformative therapies for a broad range of debilitating diseases that are driven by excessive activation of the complement cascade, including those within hematology, ophthalmology, nephrology, and neurology.

Investor Contact:
Argot Partners
apellis@argotpartners.com
+1 212.600.1902

Media:
Tracy Vineis
media@apellis.com
+1 617 420 4839

FAQ

What was announced by Apellis Pharmaceuticals on January 26, 2021?

Apellis Pharmaceuticals announced the completion of exchange transactions involving approximately $126.1 million of its Convertible Senior Notes for shares of common stock.

How many shares did Apellis issue during the exchange transactions?

Apellis issued an aggregate of 3,906,869 shares of its common stock in the exchange transactions.

What is the ticker symbol for Apellis Pharmaceuticals?

The ticker symbol for Apellis Pharmaceuticals is APLS.

Are the shares issued in the exchange transactions registered?

No, the shares issued were not registered under the Securities Act and cannot be sold in the U.S. without registration or an exemption.