Latham & Watkins Advises on Electra Therapeutics’ Upsized US$350 Million Initial Public Offering

Electra Therapeutics, Inc., a late clinical-stage biopharmaceutical company focused on pioneering a new class of precision medicines for the treatment of immune-mediated diseases and cancer, has announced the pricing of its upsized initial public offering of 23,333,334 shares of common stock at a price to the public of US$15 per share. The gross proceeds to Electra from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Electra, are expected to be approximately US$350 million. In addition, Electra has granted the underwriters a 30-day option to purchase up to an additional 3.5 million shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock are being offered by Electra.

Latham & Watkins LLP advised the underwriters in the offering with a Capital Markets team led by San Diego partner Matt Bush, with associates Omeed Valipour and Ariana Alemi. Advice was also provided on FDA matters by Washington, D.C. counsel Chad Jennings, with associate Trevor Thompson; on healthcare matters by Bay Area partner Betty Pang; on data privacy and cybersecurity matters by Bay Area partner Heather Deixler, with associate Chad Leiper; on intellectual property matters by San Diego counsel Robert Yeh, with associate Andrew Wang; on executive compensation and employee benefits matters by San Diego partner Holly Bauer, with associate Julie Voorhes; and on tax matters by Los Angeles partner Eric Cho, with associate Sina Setayeshpour.*

*Admitted to practice in Tennessee only.