Vera Therapeutics (NASDAQ:VERA) Announces Public Offering

Vera Therapeutics, Inc. (NASDAQ:VERA) disclosed in an 8-K filing dated October 29, 2024, that it has entered into an underwriting agreement with several underwriters for a public offering of its Class A common stock. The offering comprises 7,142,858 shares of the company’s common stock at a price of $42.00 per share, amounting to gross proceeds of about $300.0 million. The underwriters involved in the agreement include J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Evercore Group L.L.C., and Cantor Fitzgerald & Co.

The closing of the offering is anticipated to take place on October 31, 2024, subject to customary closing conditions. Additionally, the company has granted the underwriters an option to purchase up to 1,071,428 additional shares of common stock within 30 days following the offering, at the public offering price minus underwriting discounts and commissions.

The underwriting agreement encapsulates customary representations, warranties, and agreements by Vera Therapeutics with standard conditions for closing, indemnification obligations, and termination provisions. The offering falls under an automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission, along with a prospectus supplement.

In light of forward-looking statements made by the company, potential risks and uncertainties may impact the completion of the offering and actual gross proceeds. Vera Therapeutics acknowledges that factors such as market conditions, customary closing conditions, and macroeconomic/geopolitical events could affect actual results.

The company specified that the forward-looking statements only reflect its views at the time of the report. Vera Therapeutics disclaims any obligation or intent to update these statements, except as required by law.

With the 8-K report revealing these significant financial moves, Vera Therapeutics continues to navigate the dynamics of the market with a focus on bolstering its operations and strategic initiatives.

Aside from the announcement of the public offering, the company clarified that the underwriting agreement, legal opinion, and related consents and filings are available as exhibits in the filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vera Therapeutics’s 8K filing here.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.