 WALTHAM, Mass., July 07, 2021 GLOBE NEWSWIRE -- Apellis Pharmaceuticals, Inc. Nasdaq:APLS, a global biopharmaceutical company and leader in targeted C3 therapies, today announced that it has entered into separate, privately negotiated exchange agreements with certain holders of its 3.500 Convertible Senior Notes due 2026 the Notes. Under the terms of these exchange agreements, the holders have agreed to exchange with Apellis approximately 198.6 million in aggregate principal amount of Notes held by them for i 4,530,431 shares of Apellis common stock, which is equal to 22.8065 shares per 1,000 principal amount of Notes exchanged plus ii an additional number of shares of Apellis common stock per 1,000 principal amount of Notes exchanged equal to the quotient of a 449.64 divided by b the average of the daily volume-weighted average prices of Apellis common stock over the 10 consecutive trading days commencing on July 8, 2021. The exchange transactions are expected to close on July 23, 2021, subject to the satisfaction of customary closing conditions. 