Latham & Watkins Advises on Annexon’s US$125 Million Underwritten Public Offering of Common Stock

Annexon, Inc. (NASDAQ: ANNX), a clinical-stage biopharmaceutical company developing a new class of complement medicines for patients with classical complement-mediated autoimmune, neurodegenerative, and ophthalmic disorders, has announced the pricing of an underwritten public offering of 25,035,000 shares of its common stock and pre-funded warrants to purchase 18,379,861 shares of common stock. The shares of common stock are being sold at a price of US$2.88 per share and the pre-funded warrants are being sold at a price of US$2.879 per share. The total gross proceeds to Annexon are expected to be approximately US$125.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Annexon. The offering is expected to close on December 26, 2023, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering, with a capital markets team led by New York partner Nathan Ajiashvili and Orange County partner Shayne Kennedy, with New York associates Katie Lovejoy, Alexandra Kustra, and Richard Dacher.