Alector, Inc. (NASDAQ: ALEC) announced the pricing of an upsized underwritten public offering of 8,350,000 shares of its common stock at a price of $25.00 per share pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (SEC). The offering was upsized to 8,350,000 shares of Alector's common stock from the original offering size of 5,095,000 shares of common stock. The gross proceeds to Alector from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $208,750,000. The offering is expected to close on or about February 3, 2020, subject to customary closing conditions. In addition, Alector has granted the underwriters a 30-day option to purchase up to 1,252,500 additional shares of common stock. All of the shares in the proposed offering will be sold by Alector.
Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, and Cowen are acting as joint book-running managers for the offering.