Latham & Watkins Advises Fractyl Health on Initial Public Offering

Fractyl Health (Nasdaq: GUTS), a metabolic therapeutics company focused on pioneering new approaches for the treatment of type 2 diabetes (T2D) and obesity, has announced the pricing of its initial public offering of 7,333,333 shares of common stock at a public offering price of US$15 per share, for total gross proceeds of approximately US$110 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Fractyl Health. All of the common stock is being offered by Fractyl Health. The offering is expected to close on February 6, 2024, subject to customary closing conditions. In addition, Fractyl Health has granted the underwriters a 30-day option to purchase up to an additional 1,099,999 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.

Latham & Watkins LLP advises Fractyl Health in the offering, with a corporate team led by New York partner Nathan Ajiashvili, Chicago partner Jonathan Sarna, and Boston partners Johan Brigham and Evan Smith, with New York associate Sofia Sitterson and Chicago associate Omeed Valipour.