Business
Viking Therapeutics Announces Pricing of $250 Million Public Offering of Common Stock
SAN DIEGO, March 29, 2023 /PRNewswire/ -- Viking Therapeutics, Inc. ("Viking") (Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the
About this update from Viking Therapeutics, Inc.
[{"type":"text","content":"SAN DIEGO, March 29, 2023 /PRNewswire/ -- Viking Therapeutics, Inc. (\"Viking\") (Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced the pricing of its underwritten public offering of 17,242,000 shares of its common stock at a price to the public of $14.50 per share. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $250.0 million. In addition, Viking has granted the underwriters a 30-day option to purchase up to 2,586,300 additional shares of its common stock on the same terms and conditions. The offering is expected to close on or about April 3, 2023, subject to the satisfaction of customary closing conditions.\n\n \n \n \n \n \n \n\n \nWilliam Blair & Company, L.L.C. is acting as lead book-running manager for the offering and Raymond James & Associates, Inc. is acting as joint book-running manager for the offering. BTIG, LLC, Oppenheimer & Co. Inc. and H.C. Wainwright & Co., LLC are also acting as bookrunners for the offering. Maxim Group LLC, Roth Capital Partners, LLC and Laidlaw & Company (UK) Ltd. are acting as co-managers for the offering.\nViking currently intends to use the net proceeds from the offering for continued development of its VK2809, VK2735 and VK0214 programs and for general research and development, working capital and general corporate purposes.\nThe public offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-258231), previously filed with the Securities and Exchange Commission (the \"SEC\") on July 28, 2021, and declared effective by the SEC on August 11, 2021. The securities may be offered only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, and when available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting William Blair & Company, L.L.C. at 150 North River...