Rhea-AI Impact
Rhea-AI Sentiment
Rhea-AI Summary
Vera Therapeutics, a late clinical-stage biotechnology company, has announced the pricing of its public offering of 7,142,858 shares of Class A common stock at $42.00 per share. The offering is expected to generate approximately $300.0 million in gross proceeds before deducting underwriting costs and expenses. The company has granted underwriters a 30-day option to purchase up to an additional 1,071,428 shares. The offering is expected to close on October 31, 2024, with J.P. Morgan, Goldman Sachs, Evercore ISI, and Cantor serving as joint book-running managers.
Vera Therapeutics, una compagnia biotecnologica in fase avanzata di sviluppo clinico, ha annunciato la determinazione del prezzo per la sua offerta pubblica di 7.142.858 azioni di azioni comuni di Classe A a $42,00 per azione. Si prevede che l’offerta genererà circa $300 milioni di proventi lordi prima di detrarre i costi di sottoscrizione e le spese. L’azienda ha concesso agli underwriter un’opzione di acquisto di ulteriori 1.071.428 azioni per un periodo di 30 giorni. Si prevede che l’offerta si chiuderà il 31 ottobre 2024, con J.P. Morgan, Goldman Sachs, Evercore ISI e Cantor che fungeranno da manager principali congiunti.
Vera Therapeutics, una empresa de biotecnología en etapa clínica avanzada, ha anunciado el precio de su oferta pública de 7,142,858 acciones de acciones comunes de Clase A a $42.00 por acción. Se espera que la oferta genere aproximadamente $300 millones en ingresos brutos antes de deducir los costos de suscripción y los gastos. La compañía ha otorgado a los suscriptores una opción de 30 días para comprar hasta 1,071,428 acciones adicionales. Se espera que la oferta se cierre el 31 de octubre de 2024, con J.P. Morgan, Goldman Sachs, Evercore ISI y Cantor como gerentes conjuntos principales de libros.
베라 테라퓨틱스, 후기 임상 단계의 생명공학 회사가 7,142,858주의 클래스 A 보통주에 대한 공모가를 $42.00 주당으로 발표했습니다. 이 공모는 인수 비용과 경비를 제외하고 약 $300백만의 총 수익을 창출할 것으로 예상됩니다. 회사는 인수인에게 1,071,428주를 추가로 구매할 수 있는 30일 옵션을 부여했습니다. 이 공모는 2024년 10월 31일에 종료될 것으로 예상되며, J.P. 모건, 골드만 삭스, 에버코어 ISI 및 칸토가 공동 주관 매니저로 활동합니다.
Vera Therapeutics, une entreprise biopharmaceutique en phase clinique avancée, a annoncé le prix de son offre publique de 7 142 858 actions de Class A à 42,00 $ par action. On s’attend à ce que l’offre génère environ 300 millions de dollars de produits bruts avant déduction des frais de souscription et des dépenses. La société a accordé aux souscripteurs une option de 30 jours pour acheter jusqu’à 1 071 428 actions supplémentaires. L’offre devrait se clôturer le 31 octobre 2024, avec J.P. Morgan, Goldman Sachs, Evercore ISI et Cantor agissant en tant que gestionnaires de livre principaux conjoints.
Vera Therapeutics, ein biotechnologisches Unternehmen in der späten klinischen Phase, hat den Preis für ihr öffentliches Angebot von 7.142.858 Aktien der Klasse A zu einem Preis von $42,00 pro Aktie bekannt gegeben. Von dem Angebot wird erwartet, dass es etwa $300 Millionen an Bruttoeinnahmen generiert, bevor Underwriting-Kosten und andere Ausgaben abgezogen werden. Das Unternehmen hat den Underwritern eine 30-tägige Option eingeräumt, bis zu 1.071.428 Aktien zusätzlich zu erwerben. Das Angebot soll am 31. Oktober 2024 abgeschlossen werden, wobei J.P. Morgan, Goldman Sachs, Evercore ISI und Cantor als gemeinsame Hauptbuchführer tätig sind.
Positive
- Substantial capital raise of $300.0 million through public offering
- Strong share price of $42.00 per share for the offering
- Additional potential proceeds through 30-day option for 1,071,428 shares
Negative
- Potential dilution for existing shareholders due to issuance of 7,142,858 new shares
- Further dilution possible if underwriters exercise additional share option
Insights
This $300 million public offering at $42.00 per share represents a significant capital raise for Vera Therapeutics, strengthening their financial position for late-stage clinical development. The pricing reflects market confidence, particularly notable for a clinical-stage biotech company. The involvement of major underwriters like J.P. Morgan and Goldman Sachs adds credibility to the offering.
The additional 30-day option for $45 million worth of shares provides flexibility for increased capital if market conditions remain favorable. This substantial cash injection should extend their runway significantly, supporting their immunologic disease treatment pipeline through critical development phases. However, existing shareholders should note potential dilution of approximately 17% from the base offering.
BRISBANE, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) — Vera Therapeutics, Inc. (“Vera”), a late clinical-stage biotechnology company focused on developing and commercializing transformative treatments for patients with serious immunologic diseases, today announced the pricing of an underwritten public offering of 7,142,858 shares of its Class A common stock at a price to the public of $42.00 per share.
The gross proceeds to Vera from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $300.0 million.
In addition, Vera has granted the underwriters a 30-day option to purchase up to an additional 1,071,428 shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on October 31, 2024, subject to the satisfaction of customary closing conditions.
J.P. Morgan, Goldman Sachs & Co. LLC, Evercore ISI and Cantor are acting as joint book-running managers for the proposed offering.
The proposed offering is being made pursuant to an automatic shelf registration statement on Form S-3, including a base prospectus, that was filed with the Securities and Exchange Commission (the “SEC”) on October 28, 2024 and became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering were filed with the SEC and are available for free on the SEC’s website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available for free on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at 888-474-0200, or by email at ecm.prospectus@evercore.com; or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th St., 6th Floor, New York, NY 10022, or by email at prospectus@cantor.com.
This press release shall not constitute an offer to sell or a 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.
About Vera
Vera is a late clinical-stage biotechnology company focused on developing treatments for serious immunological diseases. Vera’s mission is to advance treatments that target the source of immunological diseases in order to change the standard of care for patients. Vera’s lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection once weekly that blocks both B-cell activating factor (BAFF) and A proliferation-inducing ligand (APRIL), which stimulate B cells and plasma cells to produce autoantibodies contributing to certain autoimmune diseases, including IgAN, also known as Berger’s disease, and lupus nephritis. In addition, Vera is evaluating additional diseases where the reduction of autoantibodies by atacicept may prove medically useful. Vera is also developing MAU868, a monoclonal antibody designed to neutralize infection with BK virus (BKV), a polyomavirus that can have devastating consequences in certain settings such as kidney transplant. Vera retains all global developmental and commercial rights to atacicept and MAU868.
Forward-looking Statements
Statements contained in this press release regarding Vera’s expectations regarding the offering are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon Vera’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, Vera’s expectations regarding the completion of the offering. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Vera undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Investor Contact:
Joyce Allaire
LifeSci Advisors
212-915-2569
jallaire@lifesciadvisors.com
Media Contact:
Madelin Hawtin
LifeSci Communications
MHawtin@lifescicomms.com
FAQ
What is the price per share for Vera Therapeutics (VERA) October 2024 public offering?
Vera Therapeutics priced its public offering at $42.00 per share of Class A common stock.
How many shares is Vera Therapeutics (VERA) offering in its October 2024 public offering?
Vera Therapeutics is offering 7,142,858 shares of Class A common stock, with an option for underwriters to purchase an additional 1,071,428 shares.
How much money will Vera Therapeutics (VERA) raise from its October 2024 public offering?
Vera Therapeutics expects to raise approximately $300.0 million in gross proceeds before deducting underwriting discounts and offering expenses.
When will Vera Therapeutics (VERA) October 2024 public offering close?
The offering is expected to close on October 31, 2024, subject to customary closing conditions.
