NEKTAR THERAPEUTICS 8-K

What Happened

• Nektar Therapeutics announced an underwritten public offering of common stock. On April 21, 2026 the company entered into an underwriting agreement with Jefferies LLC, TD Securities (USA) LLC and Piper Sandler & Co. The offering priced at $92.00 per share for 3,532,609 firm shares, with a 30‑day option to purchase up to 529,891 additional shares that the underwriters exercised in full on April 22, 2026. Total shares sold: 4,062,500; gross proceeds approximately $373.75 million; estimated net proceeds to the company about $350.9 million. The offering was expected to close on April 23, 2026 and was made under the company’s shelf registration statement on Form S-3ASR (File No. 333-291466).

Key Details

• Shares offered: 3,532,609 firm shares + 529,891 option shares (option fully exercised) = 4,062,500 total.
• Public offering price: $92.00 per share; gross proceeds ≈ $373.75 million; estimated net proceeds ≈ $350.9 million after fees and expenses.
• Underwriters/representatives: Jefferies LLC, TD Securities (USA) LLC, Piper Sandler & Co.
• Offering filed by prospectus supplement dated April 21, 2026 under the company’s Form S-3ASR effective Nov 12, 2025.

Why It Matters

• The offering raises a material amount of capital (≈ $350.9M net), which will bolster Nektar’s cash resources and financial flexibility.
• Because all shares are being sold by the company, this issuance will increase the number of shares outstanding and dilute existing shareholders’ ownership.
• Investors should note the timing (priced April 21–22, 2026; expected close April 23, 2026) and that the transaction was underwritten by major investment banks, indicating standard market execution.