BOSTON, Oct. 29, 2020 (GLOBE NEWSWIRE) — Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (“Atea”), a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing antiviral therapeutics to improve the lives of patients suffering from life-threatening viral infections, today announced the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of $24.00 per share. All of the shares of common stock are being offered by Atea. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Atea, are expected to be $300 million, excluding any exercise of the underwriters’ option to purchase additional shares.
Atea’s common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “AVIR” on October 30, 2020. The offering is expected to close on November 3, 2020, subject to satisfaction of customary closing conditions. In addition, Atea has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of Atea’s common stock at the initial public offering price less the underwriting discounts and commissions.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Evercore Group L.L.C. and William Blair & Company, L.L.C. are acting as joint book-running managers of the offering.