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Annexon Prices IPO Above Range At $17/Shr

Annexon, Inc., announced that it has priced initial public offering of 14.75 million common shares at $17.00 per share, above the estimated range.The company expects gross proceeds, before expenses, to be about $250.8 million.

The company has originally filed to sell 10.0 million shares at a range of $14 to $16 share. Earlier on July 9, the company raised the proposed offer shares to 12.5 million shares at an expected IPO price of between $15 and $16 per share.

Annexon's common stock is expected to begin trading on The Nasdaq Global Select Market on July 24, 2020, under the ticker symbol "ANNX." The offering is expected to close on July 28, 2020.

In addition, Annexon granted underwriters a 30-day option to buy more 2.21 million shares at initial public offering price, less underwriting discounts and commissions.

J.P. Morgan, BofA Securities and Cowen are acting as joint book-running managers for the offering.

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