CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Akebia Therapeutics, Inc. (Nasdaq:AKBA) today announced the closing of
its public offering of 8,363,636 shares of common stock at a public
offering price of $8.25 per share. This includes the exercise in full by
the underwriters of their option to purchase 1,090,909 shares of common
stock. The aggregate net proceeds to Akebia, after underwriting
discounts and commissions and estimated offering expenses, are
approximately $64.6 million. All of the shares of common stock were
offered by Akebia.
UBS Investment Bank and Morgan Stanley acted as joint book-running
managers of the offering. JMP Securities acted as lead manager, and
Needham & Company and Brean Capital acted as co-managers.
The securities described above were offered by Akebia Therapeutics, Inc.
pursuant to its Registration Statement on Form S-3 previously filed and
declared effective by the Securities and Exchange Commission on April
14, 2015. The offering was made by means of a prospectus and related
prospectus supplement, copies of which may be obtained from the offices
of UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of
the Americas, New York, NY 10019, or by telephone at (888) 827-7275, or
Morgan Stanley & Co. LLC Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or the
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 such state or jurisdiction.
About Akebia Therapeutics
Akebia Therapeutics, Inc. is a biopharmaceutical company headquartered
in Cambridge, Massachusetts, focused on delivering innovative therapies
to patients with kidney disease through HIF biology. Akebia's lead
product candidate, AKB-6548, is a once-daily, oral therapy, which has
completed a Phase 2b study for the treatment of anemia related to
chronic kidney disease in non-dialysis patients and is also being tested
in a Phase 2 study for the treatment of anemia in patients undergoing
dialysis.
Argot Partners
Investors:
Susan Kim, 212-600-1902
Susan@argotpartners.com
or
Media:
Eliza
Schleifstein, 917-763-8106
Eliza@argotpartners.com
Source: Akebia Therapeutics, Inc.
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