Vera Therapeutics Announces Commencement of Public Offering of Class A Common Stock
On February 7, 2022, Vera Therapeutics announced a public offering of 4,000,000 shares of its Class A common stock, with all shares being offered by the company. The underwriters may purchase an additional 600,000 shares within a 30-day option. The offering is subject to market conditions and customary closing prerequisites. J.P. Morgan, Cowen, and Evercore ISI are managing the offering. The registration statement is filed with the SEC and is accessible online. Vera Therapeutics focuses on treatments for serious immunological diseases with candidates like atacicept and MAU868.
- Public offering of 4,000,000 shares may provide significant capital for operational development.
- Potential additional 600,000 shares from underwriters could expand funding opportunities.
- Focus on innovative treatments targeting serious immunological diseases may attract investor interest.
- Public offering may lead to dilution of existing shares, impacting current shareholders' value.
BRISBANE, Calif., Feb. 07, 2022 (GLOBE NEWSWIRE) -- Vera Therapeutics, Inc. (“Vera”), a late-stage biotechnology company focused on developing and commercializing transformative treatments for patients with serious immunological diseases, today announced that it has commenced a public offering, subject to market and other conditions, to issue and sell 4,000,000 shares of its Class A common stock. All of the shares are being offered by Vera.
In connection with the proposed offering, Vera expects to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of its Class A common stock. 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 proposed offering.
J.P. Morgan, Cowen, and Evercore ISI are acting as joint book-running managers for the proposed offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and will be available for free through the SEC’s website at www.sec.gov. This proposed offering is being made only by means of a written prospectus, forming a part of the effective registration statement. Copies of the final prospectus relating to the proposed public offering can be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, or 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, 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 Vera
Vera Therapeutics is a late-stage biotechnology company focused on developing treatments for serious immunological diseases. Vera’s mission is to advance treatments that target the source of immunologic diseases in order to change the standard of care for patients. Vera’s lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection once weekly that blocks both B lymphocyte stimulator (BLyS) and a proliferation inducing ligand (APRIL), which stimulate B cells and plasma cells to produce autoantibodies contributing to certain autoimmune diseases, including IgA nephropathy (IgAN), also known as Berger’s disease and lupus nephritis. In addition, Vera is evaluating additional diseases where the reduction of autoantibodies by atacicept may prove medically useful. Vera is also developing MAU868, a monoclonal antibody designed to neutralize infection with BK Virus, a polyomavirus that can have devastating consequences in certain settings such as kidney transplant.
Forward-looking Statements
Statements contained in this press release regarding Vera Therapeutics’ expectations regarding the offering are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon Vera’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, market conditions and the closing of the offering will be subject to the satisfaction of customary closing conditions. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Vera undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Contacts
Investor Contact:
IR@veratx.com
Media Contact:
Kathy Vincent
Greig Communications, Inc.
kathy@greigcommunications.com
FAQ
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