Akero Therapeutics, Inc. (NASDAQ: AKRO), a clinical-stage biotechnology company developing transformational treatments for people with non-alcoholic steatohepatitis (NASH) and other serious metabolic disorders, today announced the pricing of its initial public offering of 5,750,000 shares of common stock at a public offering price of $16.00 per share. All of the shares are being offered by Akero. The shares are expected to begin trading on the Nasdaq Global Select Market on June 20, 2019 under the ticker symbol “AKRO.” The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Akero, are expected to be approximately $92.0 million. The offering is expected to close on June 24, 2019, subject to the satisfaction of customary closing conditions. In addition, Akero has granted the underwriters a 30-day option to purchase up to an additional 862,500 shares of common stock at the initial public offering price.
J.P. Morgan Securities LLC, Jefferies LLC and Evercore Group L.L.C. are acting as joint book-running managers for the offering. Roth Capital Partners is acting as lead manager for the offering.
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