Akouos (AKUS) IPO Opens 31% Higher

Today's IPO for Akouos, Inc. (NASDAQ: AKUS) opened for trading at $22.26 after pricing 12,500,000 shares of common stock at a public offering price of $17.00 per share, for gross proceeds of $212.5 million, before underwriting discounts and commissions and offering expenses payable by Akouos. The offering is expected to close on or about June 30, 2020, subject to the satisfaction of customary closing conditions. In addition, Akouos has granted the underwriters an option for a period of 30 days to purchase up to 1,875,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares are being offered and sold by Akouos.

Akouos’ common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “AKUS” on June 26, 2020.

BofA Securities, Cowen and Piper Sandler are acting as joint book-running managers for the offering. BTIG is acting as lead manager for the offering.

Akouos is a precision genetic medicine company dedicated to developing gene therapies with the potential to restore, improve, and preserve high-acuity physiologic hearing for people worldwide who live with disabling hearing loss. Leveraging its precision genetic medicine platform that incorporates a proprietary adeno-associated viral (AAV) vector library and a novel delivery approach, Akouos is focused on developing precision therapies for forms of sensorineural hearing loss. Headquartered in Boston, Akouos was founded in 2016 by leaders in the fields of neurotology, genetics, inner ear drug delivery and AAV gene therapy.

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