Brief: Akero Therapeutics Announces Two Financing Transactions With Pfizer And Hercules Capital

Hercules Capital

16/06/2022 12:33

June 16 (Reuters) - Akero Therapeutics Inc  AKRO.O :
    * AKERO THERAPEUTICS ANNOUNCES TWO FINANCING TRANSACTIONS
WITH
PFIZER INC. AND HERCULES CAPITAL, INC. PROVIDING ACCESS TO UP TO
$125 MILLION
    * AKERO THERAPEUTICS INC - $25 MILLION EQUITY INVESTMENT BY
PFIZER
AT $9.90 PER SHARE
    * AKERO THERAPEUTICS INC - TERM LOAN FACILITY FROM HERCULES
PROVIDING UP TO $100 MILLION
    * AKERO THERAPEUTICS INC - IF FULLY DRAWN, AKERO CASH RUNWAY
EXTENDED ONE FULL YEAR FROM PREVIOUSLY ANNOUNCED Q3 2023 TO Q3
2024
    * AKERO THERAPEUTICS INC - AS PART OF TRANSACTION, AKERO
WILL
ESTABLISH A SCIENTIFIC ADVISORY BOARD, WITH PFIZER APPOINTING
ONE MEMBER
    * AKERO THERAPEUTICS INC - WILL MAINTAIN OWNERSHIP AND
CONTROL OF
EFX, REST OF ITS PIPELINE, AND AKERO'S OPERATIONS
    * AKERO THERAPEUTICS INC - FOLLOWING TRANSACTION, PFIZER
WILL OWN
APPROXIMATELY 6.7% OF AKERO'S OUTSTANDING COMMON STOCK

Source text for Eikon:  ID:nGNX5K9RL4 
Further company coverage:  AKRO.O 

 ((Reuters.Briefs@thomsonreuters.com;))