Alector, Inc. (ALEC) has entered into a sales agreement with TD Cowen to offer and sell up to $125,000,000 of its common stock. The offering will be made through TD Cowen as agent or principal, with sales potentially occurring in negotiated transactions, including block trades or block sales, or through "at the market offerings" on the Nasdaq Global Select Market or other trading markets. The offering price per share is subject to market demand, and investors may purchase shares at different times for varying prices.
The company intends to use the net proceeds from the offering, if any, for general corporate purposes, including research, development, manufacturing, working capital, capital expenditures, other corporate expenses, and potential acquisitions. However, management has broad discretion in the use of these funds, and the failure to apply them effectively could harm the company's business and prospects.
Investors should be aware of the risks associated with the offering, including potential dilution, the uncertainty of the number of shares to be issued and the gross proceeds, and the potential for the company's stock price to decline due to future sales or issuances of additional equity securities. The prospectus supplement and the accompanying prospectus provide further details on the risks and uncertainties involved in the offering, as well as information on the company's business, financial condition, and product candidates.
