Athira Pharma Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Athira Pharma has launched an underwritten public offering of 4,000,000 shares of its common stock, with an additional option for underwriters to purchase 600,000 more shares. The offering will be conducted by Goldman Sachs, Jefferies, and Stifel as joint book-running managers. The offering is subject to market conditions and the registration statement is pending effectiveness. This move aims to raise capital for ongoing development efforts in restoring neuronal health and combating neurodegeneration. Further details are accessible via the underwriters.

Positive

• Potentially raises significant capital for development.
• Funds may support ongoing clinical efforts for neurodegeneration.

Negative

• Issuance of new shares may dilute existing shareholder value.

BOTHELL, Wash., Jan. 19, 2021 (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 that it has commenced an underwritten public offering of 4,000,000 shares of its common stock. All of the shares in the proposed offering will be sold by Athira. In addition, Athira expects to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock in the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering.

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

The proposed offering will be made only by means of a prospectus. A copy of the preliminary 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.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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.

Investor & Media Contact:
Julie Rathbun
Julie.rathbun@athira.com 
206-769-9219

FAQ

What is the purpose of Athira's public offering on January 19, 2021?

Athira intends to raise capital to support its development efforts in restoring neuronal health and addressing neurodegeneration.

How many shares is Athira offering in the public offering?

Athira is offering 4,000,000 shares of its common stock with an option for underwriters to purchase an additional 600,000 shares.

Who are the joint book-running managers for Athira's offering?

Goldman Sachs, Jefferies, and Stifel are acting as joint book-running managers.

When will the offering occur for Athira's shares?

The timing of the offering is subject to market and other conditions, with no assurance of completion.

What is the stock symbol for Athira?

The stock symbol for Athira is ATHA.