Company: VERA
Filing Date: 2025-12-10
Form Type: 424B5
Source: 0001193125-25-314244
Chunk: 7

Company: Vera Therapeutics, Inc.
Filing Date: 2025-12-10
Form: 424B5
Chunk 7
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ution of your investment.

The price of our Class A common stock in this offering may be higher than the net tangible book value per
share of our Class A common stock. Therefore, if you purchase shares of our Class A common stock in this offering, you may pay a price per share that substantially exceeds our net tangible book value per share. Based on the public offering
price of $42.50 per share, our as adjusted net tangible book value as of September 30, 2025 would have been $643.3 million, or $9.19 per share, representing an immediate increase in the net tangible book value per share of $2.95 to existing
stockholders and an immediate dilution of $33.31 in net tangible book value per share to investors purchasing Class A common stock in this offering, representing the difference between our as adjusted net tangible book value per share after
giving effect to this offering and the public offering price. To the extent outstanding stock options are exercised or outstanding restricted stock units vest and settle, there will be further dilution to new investors. In addition, to the extent we
need to raise additional capital in the future and issue additional shares of Class A common stock or securities convertible or exchangeable for our Class A common stock, our then-existing stockholders may experience dilution, and the new
securities may have rights senior to those of our Class A common stock offered in this offering.

S-5

We do not intend to pay dividends on our Class A common stock so any returns will be limited to the value of our stock.

We have never declared or paid any cash dividend on our capital stock. We currently anticipate that we will retain future earnings for the
development, operation and expansion of our business and do not anticipate declaring or paying any cash dividends for the foreseeable future. In addition, the terms of our Loan and Security Agreement, dated June 2, 2025, with Oxford place
certain limitations on our ability to pay cash dividends without the consent of Oxford. Any return to stockholders will therefore be limited to the appreciation of their stock.

We may not sustain an active trading market for our Class A common stock, and you may not be able to resell your shares of our Class A common stock at or above the offering price, if at all.

The public offering price for our Class A common stock will be determined through negotiations with the
underwriters and may not be indicative of the price at which our Class A common stock will trade after the closing of