Athira Pharma Announces Closing of Initial Public Offering

Rhea-AI Summary

Athira Pharma, a late clinical-stage biopharmaceutical company, has successfully closed its initial public offering of 12 million shares at $17.00 per share, raising gross proceeds of $204 million. Trading commenced on the Nasdaq under the ticker symbol ATHA on September 18, 2020. The underwriters have a 30-day option to purchase an additional 1.8 million shares at the IPO price. The offering was registered with the SEC and became effective on September 17, 2020, with Goldman Sachs, Jefferies, and Stifel acting as joint book-running managers.

Positive

• Raised $204 million from initial public offering.
• Stock began trading on Nasdaq, providing liquidity and visibility.

Negative

• Possible dilution of shares if underwriters exercise their option for additional shares.

SEATTLE, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Athira Pharma, Inc., (Nasdaq: ATHA) (“Athira”), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced the closing of its initial public offering of 12,000,000 shares of common stock at a price to the public of $17.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, were $204.0 million. Athira’s common stock began trading on the Nasdaq Global Select Market under the ticker symbol “ATHA” on September 18, 2020. In addition, Athira has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of Athira’s common stock at the initial public offering price less the underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Jefferies and Stifel are acting as joint book-running managers for the offering. JMP Securities is acting as co-manager for the offering.

Registration statements relating to the shares being sold in the offering were filed with the Securities and Exchange Commission (the “SEC”) and became effective on September 17, 2020. The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; 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 Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

Media Contacts:
David Schull or Maggie Beller
Russo Partners LLC
David.schull@russopartnersllc.com
Maggie.beller@russopartnersllc.com
646-942-5631

Investor Contact:
Sarah McCabe
Stern Investor Relations, Inc.
sarah.mccabe@sternir.com
212-362-1200

FAQ

What was the total amount raised in Athira Pharma's initial public offering?

Athira Pharma raised a total of $204 million from its initial public offering.

When did Athira Pharma's stock start trading on Nasdaq?

Athira Pharma's stock began trading on Nasdaq on September 18, 2020.

What is the ticker symbol for Athira Pharma?

The ticker symbol for Athira Pharma is ATHA.

How many shares were offered in Athira Pharma's IPO?

Athira Pharma offered 12 million shares in its initial public offering.

Who managed Athira Pharma's initial public offering?

Goldman Sachs, Jefferies, and Stifel were the joint book-running managers for the offering.