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Latham & Watkins Advises Underwriters in Longboard Pharmaceuticals’ IPO

March 18, 2021
Capital markets team represented the underwriters in the offering by the clinical-stage biopharmaceutical company.

Longboard Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases, has closed its initial public offering of 5 million shares of its common stock at a price to the public of US$16 per share. The gross proceeds to Longboard from the offering, before deducting underwriting discounts and commissions and estimated offering expenses were US$80 million. The shares began trading on the Nasdaq Global Market on March 12, 2021, under the symbol “LBPH”.

Latham & Watkins LLP represented the underwriters in the offering with a corporate deal team led by San Diego partners Cheston Larson and Matt Bush, with San Diego counsel Chris Geissinger and San Diego associates Briana Cornelius and Shelby Harrison. Advice was also provided on benefits and compensation matters by San Diego partner Holly Bauer, with Chicago associate Victoria Wolfe; on regulatory matters by Washington, D.C. partner Elizabeth Richards, with Bay Area counsel Heather Deixler and Washington, D.C. associate Chad Jennings; and on intellectual property matters by Bay Area partner Chris Hazuka, with San Diego associate Brendan Haberle.