Apellis Pharmaceuticals Announces Closing of Public Offering of Common Stock and Full Exercise of Option to Purchase Additional Shares

Rhea-AI Summary

Apellis Pharmaceuticals (APLS) announced the closing of its underwritten public offering, selling a total of 10,062,500 shares at $40.00 each. This offering generated gross proceeds of approximately $402.5 million before expenses. The underwriters fully exercised their option to purchase an additional 1,312,500 shares. The offering was conducted under an effective shelf registration statement filed with the SEC.

Apellis focuses on developing therapies for diseases linked to the complement system, emphasizing innovation and patient care in various medical fields.

Positive

• Raised $402.5 million through the public offering.
• Successful exercise of the underwriters' option for additional shares.

Negative

• Potential dilution of existing shareholders due to the increased share count.

WALTHAM, Mass., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc., (Nasdaq:APLS), a global biopharmaceutical company and leader in complement, today announced the closing of its previously announced underwritten public offering of common stock, including the exercise in full by the underwriters of their option to purchase an additional 1,312,500 shares at the public offering price of $40.00 per share. The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Apellis to 10,062,500 shares and increased the amount of gross proceeds, before deducting underwriting discounts and commissions and expenses payable by Apellis, to $402.5 million.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Evercore Group L.L.C. acted as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc. and Raymond James acted as lead managers for the offering.

The shares were offered by Apellis pursuant to an automatically effective shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) on January 7, 2020. This offering was made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and may be obtained for free by visiting the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204, or by email at prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; or Evercore Group L.L.C., Attention: ECM General Counsel, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.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 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 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.

Media Contact:
Lissa Pavluk
media@apellis.com
617.977.6764

Investor Contact: 
Meredith Kaya 
meredith.kaya@apellis.com
617.599.8178

FAQ

What was the total number of shares sold in the Apellis Pharmaceuticals public offering?

Apellis Pharmaceuticals sold a total of 10,062,500 shares in its public offering.

What were the gross proceeds from the Apellis Pharmaceuticals stock offering?

The offering generated approximately $402.5 million in gross proceeds.

What was the price per share in the Apellis Pharmaceuticals public offering?

The shares were sold at a public offering price of $40.00 per share.

Who were the joint book-running managers for the Apellis Pharmaceuticals offering?

The joint book-running managers were J.P. Morgan Securities, Goldman Sachs, and Evercore Group.

What is the potential impact of the Apellis Pharmaceuticals share offering on shareholders?

The share offering may lead to dilution for existing shareholders due to the increase in total shares outstanding.