On October 27, 2020 Allakos Inc. (the "Company") (Nasdaq: ALLK), a biotechnology company developing AK002 for the treatment of eosinophil and mast cell related diseases, reported it intends to offer and sell, subject to market and other conditions, $250 million of shares of its common stock in an underwritten public offering (Press release, Allakos, OCT 27, 2020, View Source [SID1234569120]). In addition, Allakos expects to grant the underwriters a 30-day option to purchase up to $37.5 million of additional shares of the Company’s common stock. All of the shares in the proposed offering will be sold by the Company. The proposed offering is subject to market and other conditions, and there can be no assurances as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
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Offering Summary
Jefferies, BofA Securities and SVB Leerink are acting as joint book-running managers for the offering.
LifeSci Capital LLC and William Blair are acting as co-managers for the offering.
The Company currently expects to use the net proceeds from the offering for general corporate purposes.
An effective registration statement relating to the securities was filed with the Securities and Exchange Commission (the "SEC") on August 5, 2019. Copies of the registration statement and the preliminary prospectus supplement and accompanying prospectus relating to the offering can be accessed through the SEC’s website at www.sec.gov. The offering is being made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-547-6340, or by email at [email protected]; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [email protected]; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at 1-800-808-7525, ext. 6132, or by email at [email protected].
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 any such state or jurisdiction.