Latham & Watkins Advises on Acumen’s Upsized US$130 Million Public Offering

Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets soluble amyloid beta oligomers (AβOs) for the treatment of Alzheimer’s disease (AD), has announced the pricing of an upsized underwritten public offering of 16,774,193 shares of its common stock at a price to the public of US$7.75 per share. All of the shares are being offered by Acumen. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Acumen, are expected to be approximately US$130 million. The offering is expected to close on July 21, 2023, subject to the satisfaction of customary closing conditions. In addition, Acumen has granted the underwriters a 30-day option to purchase up to an additional 2,516,128 shares of its common stock at the public offering price, less underwriting discounts and commissions.

Latham & Watkins LLP represents the underwriters in the offering with a corporate team led by partners Nathan Ajiashvili and Salvatore Vanchieri, with associates Matt DeSilva and Yulong Li.