Alector Announces Pricing of Public Offering of Common Stock
January 17 2024 - 7:54AM
Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology
company pioneering immuno-neurology, today announced the pricing of
an underwritten public offering of 10,869,566 shares of its common
stock for total gross proceeds of $75 million before deducting
underwriting discounts and commissions and estimated offering
expenses payable by Alector. The offering is expected to close on
January 19, 2024, subject to satisfaction of customary closing
conditions. All of the shares in the offering are being sold by
Alector.
Alector has granted the underwriter a 30-day
option to purchase up to an additional 1,630,434 shares of its
common stock offered in the public offering, at the public offering
price, less underwriting discounts and commissions.
Cantor Fitzgerald & Co. is acting as sole
book-running manager for the offering.
The offering is being made pursuant to a shelf
registration statement on Form S-3 (File No. 333- 270126) that was
previously filed with and subsequently declared effective by the
Securities and Exchange Commission (“SEC”) on May 1, 2023. The
offering is being made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. The preliminary prospectus supplement and accompanying
prospectus relating to the offering were filed with the SEC and are
available on the SEC’s website at http://www.sec.gov. A final
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 http://www.sec.gov. Copies of the final prospectus
supplement and the accompanying prospectus relating to the
offering, when available, may be obtained from: Cantor
Fitzgerald & Co., Attention: Capital Markets, 110 East
59th Street, 6th Floor, New York, NY 10022, or by
e-mail at prospectus@cantor.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, 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.
About AlectorAlector is a
clinical-stage biotechnology company pioneering immuno-neurology, a
novel therapeutic approach for the treatment of neurodegenerative
diseases. Immuno-neurology targets immune dysfunction as a
root cause of multiple pathologies that are drivers of degenerative
brain disorders. Alector has discovered and is developing a broad
portfolio of innate immune system programs, designed to
functionally repair genetic mutations that cause dysfunction of the
brain’s immune system and enable rejuvenated immune cells to
counteract emerging brain pathologies. Alector’s immuno-neurology
product candidates are supported by biomarkers and seek to treat
indications, including Alzheimer’s disease and genetically defined
frontotemporal dementia patient populations. Alector is
headquartered in South San Francisco, California.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, but are not limited to,
statements regarding Alector’s expectations regarding the closing
of the offering and expected gross proceeds from the offering. Such
statements are subject to numerous risks and uncertainties that may
cause actual events or results to differ materially from current
expectations and beliefs, including but not limited to risks and
uncertainties related to satisfaction of customary closing
conditions related to the proposed offering and other risks and
uncertainties related to the offering, Alector and its business as
set forth in Alector’s filings with the SEC, including the
Company’s Annual Reports on Form 10-K and Quarterly Reports on Form
10-Q, as well as the other documents Alector files from time to
time with the SEC. These documents contain and identify important
factors that could cause the actual results for Alector to differ
materially from those contained in Alector’s forward-looking
statements. Any forward-looking statements contained in this press
release speak only as of the date hereof, and Alector specifically
disclaims any obligation to update any forward-looking statement,
except as required by law.
Alector Contacts:
AlectorKatie Hogan 202-549-0557katie.hogan@alector.com
1AB (media)Dan Budwick973-271-6085 dan@1abmedia.com
Argot Partners (investors)Laura Perry
212.600.1902alector@argotpartners.com
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