On January 12, 2018, Alder BioPharmaceuticals, Inc. closed the transaction. The company issued 725,268 class A-1 preferred stock at $137.88 per share for gross proceeds of $99,999,951.84. Preferred dividends accrue and accumulate semi-annually commencing on January 12, 2018 and are payable semi-annually in arrears on June 30 and December 31 of each year commencing on June 30, 2018.