ALX Oncology Announces Pricing of Initial Public Offering

BURLINGAME, Calif., July 16, 2020 (GLOBE NEWSWIRE) — ALX Oncology Holdings Inc. (Nasdaq: ALXO), a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced the pricing of its initial public offering of 8,500,000 shares of its common stock at a public offering price of $19.00 per share. All of the shares are being offered by ALX Oncology. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by ALX Oncology, are expected to be $161.5 million. The shares are expected to begin trading on the Nasdaq Global Market on July 17, 2020, under the ticker symbol “ALXO.” The offering is expected to close on July 21, 2020, subject to the satisfaction of customary closing conditions. In addition, ALX Oncology has granted the underwriters a 30-day option to purchase up to an additional 1,275,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. 

Jefferies, Credit Suisse, Piper Sandler and Cantor are acting as joint book-running managers for the offering. LifeSci Capital is acting as lead manager for the offering.