Apellis Prices $150 Million Initial Public Offering

November 10, 2017: By Joan McKenna

download (3)Apellis Pharmaceuticals priced its initial public offering of 10.7 million shares at $14 per share, the midpoint of its $13 to $15 price range, and the shares began trading Nov. 9. Gross proceeds totaled $150 million.

The Louisville-based company is developing a complement C3 inhibitor, APL-2, as a treatment for geographic atrophy (GA) and other diseases.

The firm is listed on the NASDAQ Global Select Market under the APLS ticker symbol.

Underwriters had the option to purchase up to 1.6 million shares of common stock to cover over-allotments.

Apellis withdrew a planned IPO in February 2016.

Citigroup, J.P. Morgan, and Evercore ISI acted as joint book-running managers for the latest offering.

Apellis announced in August that it closed a $60 million Series E financing.

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