Denali Therapeutics’ $207 Million Common Stock Offering

Wilson Sonsini Goodrich & Rosati acted as counsel to Denali Therapeutics Inc. Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with the public offering.

Denali Therapeutics Inc. completed a public offering of 7,826,087 shares of its common stock, par value $0.01 per share, at a price to the public of $23.00 per share.

Under the terms of the Underwriting Agreement, the Company also granted the Underwriters an option exercisable for 30 days from the date of the Underwriting Agreement to purchase up to an additional 1,173,913 shares of Common Stock at the public offering price, less underwriting discounts and commissions.

The gross proceeds to the Company from this offering are expected to be approximately $180 million, or $207 million if the Underwriters exercise in full their option to purchase additional shares, in each case before deducting underwriting discounts and commissions and other estimated offering expenses payable by us.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Jefferies LLC acted as representatives of the several underwriters.

Denali Therapeutics is a biopharmaceutical company developing a broad portfolio of product candidates for neurodegenerative diseases. Denali Therapeutics is based in South San Francisco, California.

The Davis Polk corporate team included partners Alan F. Denenberg (Picture) and Stephen Salmon and associates Scott A. Blumenkranz, Dana Lueck-Mammen and Paula Gergen. The tax team included partner Rachel D. Kleinberg and associate Adam R. Brownstone. Partner David R. Bauer, counsel Bonnie Chen and associate Jennifer Leather provided intellectual property and technology advice.

Involved fees earner: David Bauer – Davis Polk & Wardwell; Scott Blumenkranz – Davis Polk & Wardwell; Adam Brownstone – Davis Polk & Wardwell; Bonnie Chen – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Paula Gergen – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Jennifer Leather – Davis Polk & Wardwell; Dana Lueck-Mammen – Davis Polk & Wardwell; Stephen Salmon – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies;

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Author: Ambrogio Visconti