Alector Announces Pricing of Initial Public Offering

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Alector, Inc. (Nasdaq: ALEC), a clinical stage biotechnology company
pioneering immuno-neurology, a novel therapeutic approach for the
treatment of neurodegeneration, today announced the pricing of its
initial public offering of 9,250,000 shares of common stock to the
public at $19.00 per share. The gross proceeds to Alector from the
offering are expected to be $176 million, before deducting the
underwriting discounts and commissions and offering expenses. In
addition, Alector has granted the underwriters a 30-day option to
purchase up to an additional 1,387,500 shares of common stock to cover
over-allotments, if any. Alector’s common stock is expected to begin
trading on the Nasdaq Global Select Market on February 7, 2019, under
the ticker symbol “ALEC.” The offering is expected to close on February
11, 2019, subject to the satisfaction of customary closing conditions.

Morgan Stanley, BofA Merrill Lynch, Cowen and Barclays are acting as
joint book-running managers for the offering.

The offering is being made only by means of a prospectus. When
available, a copy of the final prospectus related to this offering may
be obtained from:

  • Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
    Street, 2nd Floor, New York, New York 10014; or
  • BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd
    floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or email
    at dg.prospectus_requests@baml.com;
    or
  • Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long
    Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department,
    or by phone at (631) 274-2806; or
  • Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
    Island Avenue, Edgewood, NY 11717, or by email barclaysprospectus@broadridge.com

A registration statement related to these securities has been filed
with, and declared effective by, the U.S. Securities Exchange Commission
(“SEC”). Copies of the registration statement can be accessed through
the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.

About Alector

Alector is a clinical stage biotechnology company pioneering
immuno-neurology, a novel therapeutic approach for the treatment of
neurodegenerative diseases. Alector is headquartered in South San
Francisco, California.

Contacts

Media:
1AB
Dan Budwick, 973-271-6085
dan@1abmedia.com
or
Investors:
Alector,
Inc.
ir@alector.com

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