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Alector Announces Full Exercise of Underwriters' Option to Purchase Additional Shares in Public Offering
Total gross proceeds from the offering to Alector, including from the sale of the additional shares, are expected to be approximately $240 million SOUTH SAN
About this update from Alector, Inc.
[{"type":"text","content":"Total gross proceeds from the offering to Alector, including from the sale of the additional shares, are expected to be approximately $240 million\nSOUTH SAN FRANCISCO, Calif., Jan. 31, 2020 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced that the underwriters fully exercised their option to purchase an additional 1,252,500 shares of common stock at the offering price of $25.00 per share in connection with the company’s previously announced public offering of common stock. After giving effect to this exercise of the underwriters’ option, the total number of shares sold by Alector in the public offering will be 9,602,500 and total gross proceeds to Alector from the offering are expected to be approximately $240.0 million, before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on or about February 3, 2020, subject to customary closing conditions.\n Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, and Cowen are acting as joint book-running managers for the offering. Registration statements relating to the securities have been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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. The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by email at [email protected]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by email at [email protected]; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email [email protected]; or Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by emai...