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Apellis closes $117.3M common stock offering

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Apellis closes $117.3M common stock offering

Apellis Pharmaceuticals Inc. closed a public offering of 6.9 million common shares priced at $17 each to raise $117.3 million in gross proceeds.

Shares sold include the additional 900,000 stocks underwriters could have bought as part of their overallotment option,

Citigroup, J.P. Morgan and Cowen acted as joint book-running managers for the offering, while Cantor Fitzgerald & Co. acted as lead manager.

Crestwood, Ky.-based Apellis Pharmaceuticals develops therapies for autoimmune and inflammatory diseases.