India, March 4 -- 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%.
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