Co-Lead Manager on Nektar Therapeutics’ $460.0MM Follow-On Offering

Oppenheimer & Co. Inc. acted as Co-Lead Manager on Nektar Therapeutics’ $460.0MM Follow-On Offering

Nektar Therapeutics, a clinical-stage biotechnology company focused on the development of innovative medicines in the field of immunotherapy, announced an upsized underwritten public offering of $460MM of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants. Nektar is selling 7,637,931 shares of common stock and 293,103 pre-funded warrants in the offering. The shares of common stock are being sold at a public offering price of $58.00 per share and the pre-funded warrants to purchase are being sold at a public offering price of $57.9999 per pre-funded warrant, which represents the per share public offering price of each share of common stock less the $0.0001 per share exercise price of each pre-funded warrant. The gross proceeds to Nektar from the offering are expected to be approximately $460MM, before deducting underwriting discounts and commissions and estimated offering expenses.

Nektar intends to use the net proceeds from the offering for general corporate purposes, which may include research and development, clinical development (including Phase 3 trials for rezpegaldesleukin) and manufacturing costs to support the advancement of its drug candidates, as well as other general corporate purposes.

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