Axcella Health’s $71.4 Million Initial Public Offering


Goodwin advised Axcella Health on the transaction Latham & Watkins advised the underwriters.

Axcella Health Inc., a biotechnology company pioneering the research and development of novel multifactorial interventions to address dysregulated metabolism and support health, today announced the closing of its initial public offering of 3,571,428 shares of common stock at a public offering price of $20.00 per share. The gross proceeds from the offering were $71.4 million before deducting underwriting discounts and commissions and estimated offering expenses. All of the shares in the offering were offered by Axcella. The shares commenced trading on The Nasdaq Global Market on May 9, 2019, under the ticker symbol “AXLA.”

Goldman Sachs & Co. LLC, J.P. Morgan and SVB Leerink acted as joint book-running managers for the offering.

The Goodwin team was led by partners Kingsley Taft and Laurie Burlingame and associates Barbara Bispham and Carly Ward who handled all corporate aspects of the offering with assistance from partner Sarah Bock and associate James Devendorf (ERISA), partner Bradford Smith (Labor & Employment), partners Julie Tibbets and Joanne Gray and associates Steven Tjoe and Amanda Russo (FDA), partner Brian Fairchild (IP), partner Roger Cohen and associate Bryna Shmerling (Healthcare) and paralegals Pam Finan and Nathan Needle.

Latham & Watkins advised the underwriters with a team including Peter N. Handrinos and Wesley C. Holmes.

Involved fees earner: Barbara Bispham – Cooley LLP; Sarah Bock – Goodwin Procter; Laurie Burlingame – Goodwin Procter; Roger Cohen – Goodwin Procter; James Devendorf – Goodwin Procter; Brian Fairchild – Goodwin Procter; Joanne Gray – Goodwin Procter; Amanda Russo – Goodwin Procter; Bryna Shmerling – Goodwin Procter; Bradford Smith – Goodwin Procter; Kingsley Taft – Goodwin Procter; Julie Tibbets – Goodwin Procter; Steven Tjoe – Goodwin Procter; Carolyn Ward – Goodwin Procter; Peter Handrinos – Latham & Watkins; Wesley Holmes – Latham & Watkins;

Law Firms: Cooley LLP; Goodwin Procter; Latham & Watkins;

Clients: Axcella Health Inc.; Goldman Sachs & Co.; JP Morgan; SVB Leerink LLC;

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Author: Ambrogio Visconti