Akebia Therapeutics, Inc. has announced the pricing of its underwritten public offering of 25,000,000 shares of its common stock at a public offering price of $2.00 per share. This is expected to result in gross proceeds of $50.0 million for Akebia before deducting underwriting discounts, commissions, and other offering expenses. Additionally, the underwriters have been granted a 30-day option to purchase up to 3,750,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.
Leerink Partners and Piper Sandler & Co. are acting as joint bookrunning managers for the offering, while BTIG, LLC is the lead manager and H.C. Wainwright & Co. is the co-manager. The offering is expected to close on March 21, 2025, subject to customary closing conditions.
The shares are being offered by Akebia pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on September 3, 2024, and declared effective on September 12, 2024. The offering is made only by means of a prospectus and prospectus supplement that form part of the registration statement.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, and there shall be no 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.
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company headquartered in Cambridge, Massachusetts, with the purpose of bettering the lives of people impacted by kidney disease. Today the company's shares have moved 2.0% to a price of $2.08. If you want to know more, read the company's complete 8-K report here.
