Akero Therapeutics, an early stage biotech developing therapies for NASH and other metabolic diseases, announced terms for its IPO on Monday.
The South San Francisco, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16.Existing stockholders and affiliates of directors are interested in purchasing $30 million of the IPO (40% of the deal). At the midpoint of the proposed range, Akero Therapeutics would command a fully diluted market value of $430 million.
Akero Therapeutics was founded in 2017 and it plans to list on the Nasdaq under the symbol AKRO. J.P. Morgan, Jefferies, and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of June 17, 2019.
