Akero Therapeutics Commences Public Offering Of $300 Mln Of Shares

(RTTNews) - Akero Therapeutics Inc. (AKRO) said that it has commenced an underwritten public offering of $300.0 million of shares of its common stock.

In addition, Akero Therapeutics intends to grant the underwriters a 30-day option to purchase up to an additional $45.0 million of shares of its common stock at the public offering price, less underwriting discounts and commissions.

J.P. Morgan, Morgan Stanley, Jefferies and Evercore ISI are acting as joint book-running managers for the proposed offering.

AKRO closed Monday's regular trading at $31.07 up $3.26 or 11.72%. But in the after-hours trading the stock dropped $0.74 or 2.38%.