Alpine Immune Sciences, Inc. (Nasdaq: ALPN), a clinical-stage immunotherapy company focused on developing innovative treatments for autoimmune and inflammatory diseases, has announced the pricing of its underwritten public offering of 8,800,000 shares of its common stock and, in lieu of shares of common stock to certain investors, pre-funded warrants to purchase up to 3,200,000 shares of its common stock, pursuant to its existing shelf registration statement. The shares of common stock are being offered at a public offering price of US$12.50 per share and the pre-funded warrants are being offered at a price of US$12.499 per pre-funded warrant, which equals the public offering price per share of the common stock less the US$0.001 exercise price per share of each pre-funded warrant. The gross proceeds to Alpine from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Alpine, are expected to be approximately US$150.0 million. In addition, Alpine has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1,800,000 shares of common stock at the public offering price, less the underwriting discounts and commissions. All shares of common stock to be sold in the offering are being sold by Alpine. The offering is expected to close on or about November 9, 2023, subject to customary closing conditions.
Latham & Watkins LLP advised the underwriters in the offering with a corporate team led by Bay Area partner Phillip Stoup and Orange County partner Shayne Kennedy, with Los Angeles associates Catherine Shaw and Karysa Norris. Advice was also provided on tax matters by Bay Area partner Grace Lee with associate Alexander Farris; on regulatory matters by Bay Area partner Betty Pang and Washington, D.C. counsel Monica Groat; on IP matters by Bay Area partner Christopher Hazuka, with San Diego associates Robert Yeh and Kristina Funahashi; and on data privacy matters by Bay Area partner Heather Deixler, with associate Mitch Bennett*.