Latham & Watkins Advises Ardelyx in Upsized Public Offering of Common Stock

Ardelyx, Inc. (Nasdaq: ARDX), a specialized biopharmaceutical company focused on developing innovative first-in-class medicines to improve treatment for people with cardiorenal diseases, has announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $6.25 per share, before underwriting discounts and commissions, for gross proceeds of $125,000,000. In addition, Ardelyx has granted the underwriters of the offering the right for a period of 30 days to purchase up to an additional 3,000,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about December 9, 2019, subject to customary closing conditions.

Latham & Watkins LLP represents Ardelyx, Inc. in the transaction with a Silicon Valley-based corporate deal team led by partner Mark Roeder with partner Brian Paulson and associates Alexander White, Raul Gonzalez and Nimrah Khan. Advice was also provided by Silicon Valley partner Jay Metz on benefits and compensation matters; by Silicon Valley partner Judith Hasko on intellectual property matters; by Washington, D.C. partner John Manthei with San Diego associate Amy Speros on regulatory matters; and by San Francisco partner Grace Lee on tax matters.