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Debt Financing / Related

Akero Therapeutics Announces Two Financing Transactions With Pfizer And Hercules Capital

Published: 06/16/2022 11:36 GMT
Pfizer Inc. (PFE) - Akero Therapeutics Announces Two Financing Transactions With Pfizer Inc. and Hercules Capital, Inc. Providing Access to Up to $125 Million.
Akero Therapeutics Inc - $25 Million Equity Investment by Pfizer at $9.90 per Share.
Akero Therapeutics Inc - Term Loan Facility From Hercules Providing Up to $100 Million.
Akero Therapeutics Inc - If Fully Drawn, Akero Cash Runway Extended One Full Year From Previously Announced Q3 2023 to Q3 2024.
Akero Therapeutics Inc - As Part of Transaction, Akero Will Establish a Scientific Advisory Board, With Pfizer Appointing One Member.
Akero Therapeutics Inc - Will Maintain Ownership and Control of Efx, Rest of Its Pipeline, and Akero's Operations.
Akero Therapeutics Inc - Following Transaction, Pfizer Will Own Approximately 6.7% of Akero's Outstanding Common Stock.