Latham & Watkins Advises Underwriters in Shattuck Labs’ Upsized IPO

Shattuck Labs, Inc. (Shattuck), a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of cancer and autoimmune disease, has announced the pricing of its upsized initial public offering of 11,882,352 shares of common stock at a public offering price of US$17.00 per share. The gross proceeds to Shattuck from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Shattuck, are expected to be approximately US$202 million. All of the shares are being offered by Shattuck. The shares are expected to begin trading on The Nasdaq Global Select Market on October 9, 2020, under the ticker symbol “STTK.” In addition, Shattuck has granted the underwriters a 30-day option to purchase up to an additional 1,782,352 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on October 14, 2020, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partner Nathan Ajiashvili and Orange County partner Shayne Kennedy, with associates Sami Ghneim, Eric Hanzich, and Isabelle Sawhney.