Hogan Lovells Helps Five Prime raise US$71.8 million in IPO

Our Corporate lawyers from the Silicon Valley office helped another biotech company finance its operations and enter the public market. Five Prime Therapeutics, Inc. (Five Prime) announced in September the closing of its initial public offering of 5.52 million shares (including 720,000 shares to cover overallotments), resulting in aggregate gross proceeds of US$71.8 million before underwriting discounts, commissions, and expenses. The shares were sold at US$13 each.

Five Prime is a clinical-stage biotechnology company focused on discovering and developing novel protein therapeutics. Jefferies LLC, BMO Capital Markets, and Wells Fargo Securities LLC acted as joint book-running managers, and Guggenheim Securities LLC acted as a co-manager for the offering.

Our team included, Silicon Valley partners Laura Berezin and Jon Layman (Silicon Valley) alongside associates Jaime Chase (Washington D.C.), Euna Greene (Silicon Valley), Stephanie Tsao (Silicon Valley), Sara Harirchian (Los Angeles), and John Horton (Silicon Valley).

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