Apnimed Announces Closing of Upsized Initial Public Offering, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
Rhea-AI Summary
Apnimed (Nasdaq: APMD) closed its upsized initial public offering of an aggregate 13,800,000 shares of common stock at an initial public offering price of $16.00 per share, including 1,800,000 additional shares from the underwriters’ fully exercised overallotment option. All shares were sold by Apnimed, generating gross proceeds of $220.8 million before underwriting discounts, commissions and offering expenses. Apnimed’s stock began trading on the Nasdaq Global Select Market under the ticker “APMD” on July 31, 2026. BofA Securities, Evercore ISI, Cantor and LifeSci Capital served as joint book-running managers.
Positive
- IPO gross proceeds of $220.8 million before costs
- Upsized offering of 13.8 million shares, including overallotment
- Shares priced at $16.00 and listed on Nasdaq Global Select Market
- Underwriters fully exercised 1.8 million-share overallotment option
Negative
- All 13.8 million shares are primary, implying shareholder dilution
- Underwriting discounts, commissions and expenses will reduce net proceeds below $220.8 million
AI-generated analysis. How Rhea-AI works. Not financial advice.
CAMBRIDGE, Mass., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Apnimed, Inc. (Nasdaq: APMD) (“Apnimed”), a late stage clinical pharmaceutical company dedicated to the discovery, development and commercialization of novel oral therapies that address the neurobiology of sleep-related breathing diseases, today announced the closing of its upsized initial public offering of an aggregate of 13,800,000 shares of its common stock, including the full exercise by the underwriters of their overallotment option to purchase 1,800,000 additional shares, at an initial public offering price of
BofA Securities, Evercore ISI, Cantor and LifeSci Capital acted as joint book-running managers for the offering.
The gross proceeds to Apnimed from the initial public offering, including full exercise of the underwriters’ option to purchase additional shares, before deducting underwriting discounts and commissions and offering expenses payable by Apnimed, were
Registration statements relating to the initial public offering have been filed with the Securities and Exchange Commission (the “SEC”) and became effective on July 30, 2026. The offering was made only by means of a prospectus forming part of the effective registration statement relating to these shares. Copies of the final prospectus may be obtained from the SEC’s website at www.sec.gov or from: BofA Securities, Inc., Attn: Prospectus Department, 201 North Tryon Street, Charlotte, NC 28255-0001, email: dg.prospectus_requests@bofa.com; Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, telephone: (888) 474-0200, email: ecm.prospectus@evercore.com; or Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 110 E. 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Apnimed
Apnimed is a late stage clinical pharmaceutical company dedicated to the discovery, development and commercialization of novel oral therapies that address the neurobiology of sleep-related breathing diseases. We believe the introduction of once-nightly oral drugs has the potential to expand diagnosis and the reach of treatment for people with obstructive sleep apnea (OSA). We believe that people with OSA would benefit from having multiple drugs with differing mechanisms to more fully address the heterogeneity of OSA’s disease pathophysiology. Apnimed envisions a new era where novel oral therapies simplify intervention, expand the reach of diagnosis and treatment, and help more people get the oxygen and restorative sleep needed to thrive.
Based in Cambridge, Massachusetts, Apnimed is advancing its product candidate, AD109, designed to improve oxygenation in individuals living with OSA. We believe that AD109 could become the catalyst for a new oral treatment paradigm for OSA that has been historically limited to cumbersome devices or invasive surgeries. AD109 has completed two Phase 3 clinical trials for the treatment of mild, moderate and severe OSA. Apnimed's New Drug Application for AD109 was assigned a Prescription Drug User Fee Act (PDUFA) goal date of February 28, 2027.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding Apnimed’s expectations as to the clinical and therapeutic potential of AD109 and the occurrence and timing of the PDUFA goal date for AD109.
Forward-looking statements are based on Apnimed’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks inherent in biopharmaceutical product development. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” section of the final prospectus related to the offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Apnimed undertakes no duty to update such information except as required under applicable law.
Media Contact:
media@apnimed.com
Investor Contact:
ir@apnimed.com
