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Achaogen (AKAO) Announces Closing Of Initial Public Offering And Exercise Of Underwriters' Over-Allotment Option To Purchase Additional Shares


3/18/2014 8:59:20 AM

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SOUTH SAN FRANCISCO, Calif., March 17, 2014 (GLOBE NEWSWIRE) -- Achaogen, Inc. (Nasdaq:AKAO), a clinical-stage biopharmaceutical company developing novel antibacterials to treat multi-drug resistant (MDR) gram-negative infections, announced today the closing of its initial public offering of 6,900,000 shares of its common stock at a price to the public of $12.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 900,000 additional shares of common stock to cover over-allotments, resulting in aggregate gross proceeds of $82,800,000, before underwriting discounts, commissions and estimated offering expenses. Achaogen's common stock is listed on The NASDAQ Global Market under the ticker symbol "AKAO."

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