Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Alector sets public offering at $75 million

EditorAhmed Abdulazez Abdulkadir
Published 01/17/2024, 09:54 AM
© Reuters.

SOUTH SAN FRANCISCO - Alector, Inc. (NASDAQ:ALEC), a biotech firm engaged in immuno-neurology research, has announced the pricing of its public offering of 10,869,566 shares at a total value of $75 million, before underwriting discounts and commissions, along with estimated offering expenses. The offering is scheduled to conclude on January 19, 2024, pending the fulfillment of standard closing conditions.

The company, which is solely responsible for the sale of the shares, has also given the underwriter, Cantor Fitzgerald & Co., a 30-day option to buy up to an additional 1,630,434 shares at the public offering price, after accounting for underwriting discounts and commissions.

This offering follows a shelf registration statement on Form S-3, filed and declared effective by the Securities and Exchange Commission (SEC) on May 1, 2023. The prospectus and accompanying prospectus supplement, which are part of this registration statement, can be accessed on the SEC's website.

Alector, headquartered in South San Francisco, California, is at the forefront of developing treatments for neurodegenerative diseases by targeting immune system dysfunction, a key factor in such diseases. The company is currently advancing a diverse portfolio of product candidates designed to repair genetic mutations that impair the brain's immune system, with the goal of enabling immune cells to combat brain pathologies. Alector's research focuses on addressing conditions such as Alzheimer's disease and genetically defined frontotemporal dementia.

This news article is based on a press release statement from Alector, Inc. and does not constitute an offer to sell or a solicitation of an offer to buy any securities.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.