Annexon Announces $75 Million Public Offering of Common Stock
BRISBANE, Calif. — Annexon, Inc. (Nasdaq: ANNX), a pioneering biopharmaceutical company dedicated to addressing neuroinflammation in a variety of serious diseases, is excited to share the pricing of its recently announced public offering. This offering comprises 25,096,153 shares of common stock priced at $2.60 per share. In addition, the company is providing pre-funded warrants to acquire 3,750,000 shares at a purchasing price of $2.599, which aligns closely with the common stock offering price.
Financial Impact and Closing Details
The anticipated gross proceeds from this offering could reach up to $75 million. It is important to note that this figure is before accounting for underwriting discounts, commissions, and other expenses that Annexon will cover. Set to close shortly, the offering is expected to conclude soon, subject to the fulfillment of standard closing conditions. Furthermore, Annexon has empowered underwriters with a 30-day option to buy an additional 4,326,922 shares of common stock if needed.
Key Contributions From Underwriters
In this venture, Goldman Sachs & Co. LLC, TD Cowen, and Wells Fargo Securities have been appointed as joint book-running managers. Their extensive experience and expertise will guide the offering, ensuring both efficiency and effectiveness in navigating the financial landscape.
Regulatory Compliance and Resources
The shares and warrants offered through this initiative are compliant with a shelf registration statement filed with the Securities and Exchange Commission (SEC), which was readily made effective in the Spring prior. Interested parties will find the offering is available exclusively through the guidance of the prospectus supplement and accompanying details found within the registration framework. Anyone wishing to acquire a copy of the final prospectus supplement can reach out to the underwriters directly.
About Annexon, Inc.
Annexon, Inc. (Nasdaq: ANNX) is on a mission to transform the treatment landscape for patients suffering from neuroinflammatory diseases across the body, brain, and eye. This biopharmaceutical firm stands at the forefront of spearheading novel complement inhibitors that aim to halt neuroinflammation from its inception. By focusing on C1q, the catalyst molecule in the classical complement pathway, Annexon seeks to prevent tissue damage associated with various diseases. Their diverse pipeline emphasizes three main therapeutic spaces — autoimmunity, neurodegeneration, and ophthalmology — carefully crafted to meet the critical needs of millions globally. Annexon’s core ambition remains clear: to innovate groundbreaking therapies that help patients live their best lives.
Frequently Asked Questions
What is the total value of the public offering announced by Annexon?
The total gross proceeds of the public offering are expected to be $75 million.
How many shares were offered in the public offering?
Annexon is offering 25,096,153 shares of its common stock.
What type of warrants were included with the offering?
The offering includes pre-funded warrants that allow for the purchase of an additional 3,750,000 shares of common stock.
Who are the underwriters managing the offering?
The joint book-running managers for this offering are Goldman Sachs & Co. LLC, TD Cowen, and Wells Fargo Securities.
What is the focus of Annexon's drug development?
Annexon focuses on developing innovative treatments to stop neuroinflammation in diseases affecting the body, brain, and eye.
