IPO - Akero Therapeutics, Inc.

Form Type: 8-K

Filing Date: 2025-01-30

Corporate Action: Ipo

Type: New

Accession Number: 000119312525016268

Filing Summary: On January 28, 2025, Akero Therapeutics, Inc. entered into an underwriting agreement with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Jefferies LLC for a public offering. The company agreed to issue and sell 5,333,420 shares of common stock at a price of $48.00 per share, along with pre-funded warrants for 1,958,247 shares at a price of $47.9999 per warrant. An additional option allows underwriters to purchase 1,093,750 shares at the same price. The offering is scheduled to close on or about January 30, 2025, with net proceeds expected around $377.8 million for clinical development and general corporate purposes. Proceeds may also support acquiring complementary products. Conditions for warrant exercises are specified to avoid ownership limits; these warrants will not be listed on any exchange. The offering relies on a previously filed registration statement, which became effective in May 2024, and involves customary legal representations and indemnifications.

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