AN2 Therapeutics Announces Pricing of $70.0 Million Underwritten Offering of Common Stock
August 15 2023 - 10:42PM
Business Wire
AN2 Therapeutics, Inc. (Nasdaq: ANTX), a clinical-stage
biopharmaceutical company focused on developing treatments for
rare, chronic, and serious infectious diseases with high unmet
needs, today announced the pricing of an underwritten offering of
7,777,778 shares of its common stock. The shares of common stock
are being sold at a price of $9.00 per share, a premium from
today’s closing price. Investors who have agreed to purchase shares
in the offering include RA Capital Management, TCGX, Frazier Life
Sciences, Marshall Wace, Adage Capital Partners LP, Avidity
Partners, Janus Henderson Investors and Surveyor Capital (a Citadel
company). The gross proceeds from the offering to AN2 are expected
to be approximately $70.0 million, before deducting underwriting
discounts and commissions and offering expenses. The offering is
expected to close on or about August 18, 2023, subject to the
satisfaction of customary closing conditions.
TD Cowen, Leerink Partners, and Evercore ISI are acting as
book-runners for the offering. Oppenheimer & Co. is acting as
lead manager for the offering.
The shares are being offered by the company pursuant to a
Registration Statement on Form S-3 previously filed and declared
effective by the SEC. A final prospectus supplement and the
accompanying prospectus relating to the offering will also be filed
with the SEC. These documents can be accessed for free through the
SEC’s website at www.sec.gov.
When available, a copy of the final prospectus supplement and
the accompanying prospectus relating to the offering may also be
obtained from: Cowen and Company, LLC at Cowen and Company, LLC,
599 Lexington Avenue, New York, NY 10022, by email at
Prospectus_ECM@cowen.com or by telephone at (833) 297-2926; or
Leerink Partners LLC, Syndicate Department, 53 State Street, 40th
Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext.
6105 or by email at syndicate@leerink.com; or Evercore Group
L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street,
35th Floor, New York, New York 10055, by telephone at 888-474-0200,
or by email at ecm.prospectus@evercore.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation, or sale would be unlawful before registration
or qualification under the securities laws of such state or
jurisdiction.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements expressed or implied in this
press release include, but are not limited to, statements regarding
the ability to close the offering, expected gross proceeds and
timing for the closing of the offering. Such forward-looking
statements are based on AN2's current estimates, expectations,
plans, objectives, and intentions, are not guarantees of future
performance and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which
include those described in AN2’s Report on Form 10-Q for the
quarter ended June 30, 2023 and other filings with the SEC under
the heading “Risk Factors.” These filings, when available, are
available on the investor relations section of our website at
investor.an2therapeutics.com and on the SEC’s website at
www.sec.gov. Forward-looking statements contained in this press
release are made as of this date, and AN2 undertakes no duty to
update such information except as required under applicable
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230815851416/en/
Company Contacts: Lucy O. Day Chief Financial Officer
l.day@an2therapeutics.com
Anne Bowdidge Investor Relations
abowdidge@an2therapeutics.com
AN2 Therapeutics (NASDAQ:ANTX)
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