Deal Details

Apellis Completes $402.5 Million Follow-On Offering

Healthcare

Apellis follow-on offering

Summary

Apellis Pharmaceuticals, Inc. (“Apellis”), (NASDAQ: APLS), recently completed an upsized underwritten public offering of common stock and pre-funded warrants, including the full exercise of the underwriters’ option to purchase additional shares of common stock, for total gross proceeds of $402.5 million. Apellis intends to use the proceeds from this offering to support the commercialization of EMPAVELI and SYFOVRE and to fund clinical development of current and future product candidates.

The offering consisted of 4,007,936 shares of common stock at a public offering price of $63.00 per share, which includes 833,333 shares of common stock pursuant to the underwriters’ option to purchase additional shares, and pre-funded warrants to purchase 2,380,956 shares of common stock at a public offering price of $62.9999 per pre-funded warrant.

Baird acted as a co-manager on this offering.

About

Apellis is a global biopharmaceutical company that combines courageous science and compassion to develop life-changing therapies for some of the most challenging diseases patients face. Apellis ushered in the first new class of complement medicine in 15 years and now has two approved medicines targeting C3. These include the first and only therapy for geographic atrophy, a leading cause of blindness around the world. Apellis Pharmaceuticals, Inc. is headquartered in Waltham, Massachusetts.