Morgan Stanley, Credit Suisse are the bookrunners; UBS, Nomura assist
By Devika Patel
Knoxville, Tenn., March 21 - Akebia Therapeutics, Inc. priced its $100 million initial public sale of stock with a $14.95 million greenshoe, according to a prospectus filed Friday with the Securities and Exchange Commission. The deal was announced Feb. 14.
The company will sell 5,882,353 common shares at $17.00 per share.
Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are the joint bookrunners.
Settlement is expected March 25.
Proceeds will be used for clinical development and trials, specifically to advance the company's oncology product AKB-6548, for working capital and other general corporate purposes.
The biopharmaceutical company is based in Cambridge, Mass. The company intends to list its common stock on the Nasdaq stock exchange under the symbol "AKBA."
| Issuer: | Akebia Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $100,000,001
|
| Greenshoe: | $14,953,999
|
| Shares: | 5,882,353
|
| Price: | $17.00
|
| Warrants: | No
|
| Bookrunners: | Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC
|
| Lead manager: | UBS Investment Bank
|
| Co-manager: | Nomura Securities International, Inc.
|
| Announcement date: | Feb. 14
|
| Pricing date: | March 21
|
| Settlement date: | March 25
|
| Expected listing: | Nasdaq: AKBA
|
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