Akero Therapeutics Announces Closing of Upsized Public Offering of Common Stock and Pre-Funded Warrants and Full Exercise of Underwriters’ Option to Purchase Additional Shares

SOUTH SAN FRANCISCO, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Akero Therapeutics, Inc. (Nasdaq: AKRO), a clinical-stage company developing transformational treatments for patients with serious metabolic disease marked by high unmet medical need, announced today the closing of its previously announced underwritten public offering of (i) 6,427,170 shares of its common stock at a public offering price of $48.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to an additional 1,093,750 shares of common stock, and (ii) in lieu of common stock to certain investors, pre-funded warrants to purchase 1,958,247 shares of common stock at a public offering price of $47.9999 per pre-funded warrant, which represents the per share public offering price of each share of common stock less the $0.0001 per share exercise price for each pre-funded warrant. All of the shares of common stock and pre-funded warrants in the offering were sold by Akero. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $402.5 million.

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