Latham & Watkins Advises on Longboard Pharmaceuticals’ Upsized Public Offering of Common Stock

Longboard Pharmaceuticals, Inc. (Nasdaq: LBPH), a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases, announced the pricing of an upsized underwritten public offering of 10,000,000 shares of its voting common stock at a price to the public of US$21.00 per share. The gross proceeds to Longboard from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be US$210 million. In addition, Longboard has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of voting common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on January 8, 2024, subject to satisfaction of customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by San Diego partner Matt Bush, with associates Peter Simon and Shelby Harrison.