Akebia Therapeutics, Inc., a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, has announced the pricing of an underwritten public offering of 11,000,000 shares of common stock at a public offering price of $12.00 per share. Gross proceeds to the Company from the offering are expected to be $132,000,000 before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of common stock in connection with the offering. All shares are being sold by the Company. The offering is expected to close on May 14, 2020, subject to the satisfaction of customary closing conditions. The offering was upsized from the previously announced offering size of approximately $100,000,000 of shares of common stock.
Latham & Watkins LLP represents the underwriters in the public offering with a corporate deal team led by partners Peter Handrinos and Wesley Holmes, with associates Andrew Blumenthal and Emily Henderson. Advice was also provided on regulatory matters by partner Ben Haas and counsel Betty Pang, with associate Amy Speros; on intellectual property matters by partner Alan Tamarelli; and on tax matters by partner Jocelyn Noll, with associate Joseph Curran.