Annexon, Inc., a clinical-stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain and eye, has 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 listed on The Nasdaq Global Select Market, 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.
Latham & Watkins LLP represents Annexon, Inc. in the offering with a life sciences capital markets team led by Bay Area partners Kathleen Wells and Brian Cuneo, with associates Richard Kim, Michelle Lu, Casey Tong and Taimi Jacobson. Advice was also provided on regulatory matters by Washington, D.C. partner Ben Haas and Bay Area counsel Betty Pang, with Washington, D.C. associates Chad Jennings and Margaret Rote; on benefits and compensation matters by Bay Area partner James Metz, with Boston associate Lilly Fang; on intellectual property matters by Bay Area partner Judith Hasko, with associate Katie Mladinich; and on tax matters by Bay Area partner Grace Lee, with Boston associate Jeremiah Cowen.