Apogee Therapeutics, Inc. Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares for Gross Proceeds of $403 Million

Rhea-AI Summary

Apogee Therapeutics (Nasdaq: APGE) closed an underwritten public offering of 5,750,000 common shares at $70.00 per share, including full exercise of the underwriters’ option for 750,000 additional shares, generating approximately $403 million in gross proceeds before fees.

The offering used an effective shelf registration filed August 12, 2024, and was led by Jefferies, TD Cowen, Stifel and Guggenheim.

Positive

• Gross proceeds of $403 million
• Full exercise of 750,000-share overallotment option
• 5.75 million shares sold at $70.00 per share

Negative

• Share issuance may cause ownership dilution for existing shareholders
• Net proceeds reduced by underwriting discounts, commissions and expenses

Argus Mar 27 session

-0.77% close to close Open Argus

Details

News Market Reaction – APGE

On Mar 27, the first trading day after this news, APGE closed 0.77% below the previous close.

Data tracked by StockTitan Argus for the Mar 27 session.

Key Figures

Shares offered: 5,750,000 shares Underwriters’ option: 750,000 shares Offering price: $70.00 per share +2 more

Shares offered

5,750,000 shares

Total common stock in this underwritten public offering

Underwriters’ option

750,000 shares

Full over-allotment option exercised by underwriters

Offering price

$70.00 per share

Public offering price for this equity raise

Gross proceeds

$403 million

Aggregate gross proceeds before fees and expenses

Shelf filing date

August 12, 2024

Automatically effective registration statement referenced for this offering

Previous Offering Reports

5 past events · Latest: Mar 24

Same Type 5 events

1. Mar 24

   Offering pricing

   24h Move

   +7.6%

   Priced 5,000,000 shares at $70.00 for about $350M gross proceeds.

2. Mar 23

   Offering proposed

   24h Move

   -7.9%

   Proposed $300M offering with $45M overallotment option under existing registration.

3. Oct 10

   Offering closing

   24h Move

   +2.9%

   Closed offering raising about $345M, including full exercise of underwriters’ option.

4. Oct 08

   Offering pricing

   24h Move

   +12.6%

   Priced $300M offering at $41.00 plus pre-funded warrants under shelf registration.

5. Oct 08

   Offering proposed

   24h Move

   +12.6%

   Announced proposed underwritten offering with 30-day 15% overallotment option.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten public offering, shelf registration statement, prospectus supplement, registration statement, +2 more

6 terms

underwritten public offering financial

"announced the closing of its previously announced underwritten public offering of 5,750,000 shares"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

shelf registration statement regulatory

"An automatically effective shelf registration statement relating to these securities was filed"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

prospectus supplement regulatory

"by means of a written prospectus, including a prospectus supplement, forming a part"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

registration statement regulatory

"forming a part of an effective registration statement"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

Securities and Exchange Commission (SEC) regulatory

"shelf registration statement relating to these securities was filed with the Securities and Exchange Commission (SEC)"

A U.S. federal agency that oversees the stock and securities markets, requiring public companies and brokers to register and share accurate financial information so investors can see the facts. It enforces rules, investigates fraud and can pause or change market activity; think of it as a referee whose decisions and investigations affect investor confidence, legal risk and the value of traded securities.

joint book-running managers financial

"Jefferies, TD Cowen, Stifel and Guggenheim Securities acted as joint book-running managers"

Joint book-running managers are the lead banks or financial firms responsible for organizing and overseeing the sale of a large financial offering, such as a company’s stock or bonds. They coordinate efforts to set the price, attract investors, and ensure the offering is successful. Their role is important to investors because they help ensure the offering is well-managed, properly priced, and accessible to a wide range of buyers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN FRANCISCO and BOSTON, March 26, 2026 (GLOBE NEWSWIRE) -- Apogee Therapeutics, Inc. (Nasdaq: APGE), a clinical-stage biotechnology company advancing optimized, novel biologics with the potential for best-in-class profiles in the largest inflammatory and immunology (I&I) markets, today announced the closing of its previously announced underwritten public offering of 5,750,000 shares of its common stock, including the full exercise of the underwriters’ option to purchase up to 750,000 additional shares, at a public offering price per share of $70.00. The aggregate gross proceeds to Apogee from the offering were approximately $403 million before deducting underwriting discounts and commissions and other offering expenses payable by Apogee.

Jefferies, TD Cowen, Stifel and Guggenheim Securities acted as joint book-running managers for the offering. Wedbush PacGrow and BTIG acted as lead managers for the offering.

An automatically effective shelf registration statement relating to these securities was filed with the Securities and Exchange Commission (SEC) on August 12, 2024. This offering was made only by means of a written prospectus, including a prospectus supplement, forming a part of an effective registration statement. A copy of the final prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC, are available on the SEC’s website at www.sec.gov and may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Apogee

Apogee Therapeutics is a clinical-stage biotechnology company advancing novel biologics with the potential for differentiated efficacy and dosing in the largest I&I markets, including for the treatment of Atopic Dermatitis (AD), asthma, Eosinophilic Esophagitis (EoE), Chronic Obstructive Pulmonary Disease (COPD) and other I&I indications. Apogee’s antibody programs are designed to overcome limitations of existing therapies by targeting well-established mechanisms of action and incorporating advanced antibody engineering to optimize half-life and other properties. Zumilokibart (APG777), the Company’s most advanced program, is being initially developed for the treatment of AD, which is the largest and one of the least penetrated I&I markets, as well as asthma and EoE. With four validated targets in its portfolio, Apogee is seeking to achieve best-in-class efficacy and dosing through monotherapies and combinations of its novel antibodies. Based on a broad pipeline and depth of expertise, the Company believes it can deliver value and meaningful benefit to patients underserved by today’s standard of care.

Investor Contact:
Noel Kurdi
VP, Investor Relations
Apogee Therapeutics, Inc.
Noel.Kurdi@apogeetherapeutics.com

Media Contact:
Dan Budwick
1AB Media
dan@1abmedia.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Apogee Therapeutics (APGE) sell in the March 26, 2026 offering?

Apogee sold 5,750,000 common shares in the offering. According to the company, that total includes the underwriters’ fully exercised option to buy an additional 750,000 shares at the $70 public offering price.

What were the proceeds and price per share for APGE's March 26, 2026 offering?

The offering price was $70.00 per share, yielding approximately $403 million in gross proceeds. According to the company, this amount is before deducting underwriting discounts, commissions and other offering expenses.

Who managed Apogee Therapeutics' (APGE) March 26, 2026 public offering?

Jefferies, TD Cowen, Stifel and Guggenheim acted as joint book-running managers. According to the company, Wedbush PacGrow and BTIG served as lead managers for the offering.

Will APGE's March 26, 2026 offering affect existing shareholders?

Yes. The issuance of 5,750,000 new shares will dilute existing ownership percentages. According to the company, the offering included the full exercise of the underwriters’ option, increasing share count.

Where can investors find the APGE final prospectus for the March 26, 2026 offering?

The final prospectus and supplement are available on the SEC website and from the managing banks. According to the company, copies can be requested from Jefferies, TD Securities, Stifel, or Guggenheim using their listed contact details.

Was the APGE offering registered and what registration dated was cited?

Yes. The offering was made under an effective shelf registration. According to the company, the related shelf registration statement was filed with the SEC on August 12, 2024.