Akero Therapeutics Inc., trading as AKRO, has initiated a public offering of its common stock worth $300.0 million. In an effort to provide financial flexibility to its underwriters, Akero Therapeutics is prepared to offer them an extra 30-day option to buy further shares worth up to $45.0 million. This amount is less the underwriting discounts and commissions and is represented at the public offering price.
J.P. Morgan, Morgan Stanley, Jefferies, and Evercore ISI have been appointed as the joint book-running managers for this proposed offering. After a successful trading day where AKRO's common stock increased by $3.26 or 11.72% to close at $31.07, there was slight dip of $0.74 or 2.38% in the after-hours trading.
