Akero Therapeutics (AKRO) Prices 5.24M Share Offering at $42/sh

Akero Therapeutics, Inc. (Nasdaq: AKRO), a clinical-stage company developing transformational treatments for patients with serious metabolic disease marked by high unmet medical need, today announced the pricing of an underwritten offering of 5,238,500 shares of its common stock at a price of $42.00 per share, before deducting underwriting discounts and commissions, for total gross proceeds of approximately $220.0 million. All of the shares to be sold in the offering are being sold by Akero Therapeutics. The financing was led by new investor General Atlantic and included existing investors Adage Capital Partners LP, Avidity Partners, Boxer Capital, Commodore Capital, Janus Henderson Investors, Logos Capital, Perceptive Advisors, Rock Springs Capital and funds and accounts advised by T. Rowe Price Associates, Inc. The offering is expected to close on or about May 19, 2023, subject to the satisfaction of customary closing conditions.

Jefferies is acting as sole book-running manager for the offering.

The shares of common stock are being offered by Akero Therapeutics pursuant to an automatic shelf registration statement on Form S-3ASR (File No. 333-256229) that was previously filed with the U.S. Securities and Exchange Commission (SEC) on May 18, 2021 and automatically became effective upon filing. The prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus may also be obtained, when available, by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388; or by email at [email protected].

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.

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