Akebia Therapeutics Closes Public Offering, Raising $64 Million
Ropes & Gray advised Akebia Therapeutics, Inc. in its public offering of 8,363,636 shares of common stock at $8.25 per share. This includes the exercise in full by the underwriters of their option to purchase 1,090,909 shares. The aggregate net proceeds to Akebia, after underwriting discounts and commissions and estimated offering expenses, are approximately $64.6 million. The pricing of the offering was announced April 16, and the offering closed April 22.
Cambridge, Mass.-based Akebia is a biopharmaceutical company focused on treatments for patients with kidney disease.
The Ropes & Gray team included securities & public companies partner Paul Kinsella (Boston).