Company: VERA
Filing Date: 2025-12-10
Form Type: 424B5
Source: 0001193125-25-314244
Chunk: 11

Company: Vera Therapeutics, Inc.
Filing Date: 2025-12-10
Form: 424B5
Chunk 11
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 amounts
and timing of our actual expenditures will depend on numerous factors, including the time and cost necessary to conduct our planned clinical trials, the results of our planned clinical trials and other factors described in the section titled
“Risk factors” in this prospectus supplement and the accompanying prospectus, including the information incorporated by reference herein and therein, as well as the amount of cash used in our operations and any unforeseen cash needs.
Therefore, our actual expenditures may differ materially from the estimates described above. We may find it necessary or advisable to use the net proceeds for other purposes, and we will have broad discretion in the application of the net proceeds.

S-9

Dilution As of September 30, 2025, we had a historical net tangible book value of $398.9 million, or $6.24 per share of common stock, based on 63,894,845 shares of Class A common stock outstanding as of such date. Our historical net tangible book value per share represents total assets less total liabilities, divided by the number of shares of Class A common stock outstanding. After giving effect to the sale by us of shares of Class A common stock in this offering at the public offering price of $42.50 per share, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us, our as adjusted net tangible book value as of September 30, 2025 would have been approximately $643.3 million, or approximately $9.19 per share. This amount represents an immediate increase in our net tangible book value of approximately $2.95 per share to our existing stockholders and an immediate dilution in our net tangible book value of approximately $33.31 per share to investors purchasing Class A common stock in this offering. We determine dilution by subtracting our as adjusted net tangible book value per share after this offering from the amount of cash paid by an investor for a share of Class A common stock in this offering. The following table illustrates this dilution on a per share basis:

| Public offering price per share                                                                   |     |   |      |     | $ | 42.50 |
| Historical net tangible book value per share as of September 30, 2025                             |     | $ | 6.24 |     |   |       |
| Increase in net tangible book value per share attributable to investors purchasing shares in this 
 offering                                                                                          |     |   | 2.95 |     |   |       |
| As adjusted net tangible book value