Benzinga | Jul 24, 2020 05:34AM EDT

Annexon Prices 14.8M Shares IPO @ $17/Share

Annexon, Inc. (NASDAQ:ANNX), a clinical-stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain and eye, today announced the pricing of its initial public offering of 14,750,000 shares of its common stock at a public offering price of $17.00 per share. All of the shares of common stock are being offered by Annexon. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Annexon, are expected to be approximately $250.8 million. Annexon's common stock is expected to begin trading on The Nasdaq Global Select Market on July 24, 2020, under the ticker symbol "ANNX." The offering is expected to close on July 28, 2020, subject to the satisfaction of customary closing conditions. In addition, Annexon has granted the underwriters a 30-day option to purchase up to an additional 2,212,500 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

J.P. Morgan, BofA Securities and Cowen are acting as joint book-running managers for the offering.