Allakos Announces Upsizing and Pricing of Public Offering of Common Stock

World News: . []

REDWOOD CITY, Calif., Aug. 06, 2019 (GLOBE NEWSWIRE) -- Allakos Inc. (the “Company”) (Nasdaq: ALLK), a biotechnology company developing AK002 for the treatment of eosinophil and mast cell related diseases, today announced the upsizing and pricing of its previously announced underwritten public offering. The size of the offering has been increased from the previously announced $200 million of shares of the Company’s common stock to $350 million of shares of its common stock. The Company is offering 4,545,454 shares at a public offering price of $77.00 per share. The offering is expected to close on August 9, 2019, subject to the satisfaction of customary closing conditions.  In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to $52.5 million of additional shares of its common stock at the public offering price, less the underwriting discounts and commissions.

The Company currently expects to use the net proceeds from the offering for general corporate purposes.

An effective registration statement relating to the securities sold in this offering was filed with the Securities and Exchange Commission on August 5, 2019. Copies of the registration statement, the preliminary prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC, and a final prospectus supplement and accompanying prospectus will be filed with the SEC and will be accessible through the SEC’s website at www.sec.gov. The offering was made only by means of a prospectus. Copies of the final prospectus supplement may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-547-6340, or by email at Prospectus_Department@jefferies.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.

Source: Allakos Inc.

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Globe Newswire: 03:18 GMT Wednesday 7th August 2019

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