• Friday, 22 February 2019

Akcea Therapeutics Announces Pricing of Initial Public Offering

CAMBRIDGE, Mass., July 13, 2017 : Akcea Therapeutics, Inc. today announced the pricing of its initial public offering of 15,625,000 shares common stock at a public offering price of USD 8.00 per share, for gross proceeds of USD 125.0 million before underwriting discounts and commissions and offering expenses to be paid by Akcea.

In addition, Akcea has granted the underwriters a 30-day option to purchase up to 2,343,750 additional shares of common stock at the public offering price, less underwriting discount and commissions, to cover over-allotments, if any. Akcea's shares are expected to begin trading on the NASDAQ Global Select Market on July 14, 2017 under the symbol "AKCA." The offering is expected to close on July 19, 2017, subject to customary closing conditions.

In addition, Novartis Pharma AG has agreed to purchase $50.0 million of Akcea's common stock in a separate private placement concurrent with the completion of Akcea's initial public offering at a price per share equal to the initial public offering price. The closing of the initial public offering is not conditioned upon the closing of the concurrent private placement.

Cowen, Stifel and Wells Fargo Securities are acting as joint book running managers for the offering. BMO Capital Markets is acting as lead manager for the offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and became effective on July 13, 2017. Copies of the registration statement can be accessed by visiting the U.S. Securities and Exchange Commission website at www.sec.gov.

The offering is being made only by means of a prospectus. A preliminary prospectus describing the terms of the offering has been filed with the U.S. Securities and Exchange Commission and forms a part of the effective registration statement. A copy of the final prospectus relating to the offering will be filed with the U.S. Securities and Exchange Commission and may be obtained, when available, from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (631) 274-2806; or from Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com; or from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or by telephone at (800) 326-5897, or by email at cmclientsupport@wellsfargo.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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Akcea Therapeutics Announces Pricing of Initial Public Offering

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