Ablynx Successfully Raises €50 Million with Secondary Public Offering - Final Price: €7.5 Per Share
March 15, 08:06 AM
GHENT, Belgium - 15 March 2010 - Ablynx, the biopharmaceutical company focused on the discovery and development of Nanobodies®, announced today that it has successfully completed its Secondary Public Offering (the "SPO" or "Offering") raising €50 million.
The offered shares were priced at €7.5 per share. As a result of the Offering, 6,666,667 new shares, equivalent to €50 million, will be issued by Ablynx. Additionally, 400,000 over-allotment shares, equivalent to €3 million, will be allocated. The over-allotment shares are existing shares and if the over-allotment option is exercised in full, this will result in the sale of the over-allotment shares by the Lending Shareholders.
KBC Securities NV and UBS Investment Bank acted as Joint Global Coordinators and Joint Bookrunners, while Piper Jaffray Ltd. acted as Co-Manager to the Offering and while KBC Bank NV and Kempen & Co NV acted as selling agent.
Commenting on today's announcement, Dr Edwin Moses, Ablynx's Chairman and Chief Executive Officer said:
"We are delighted to have successfully completed our secondary public offering and to have been able to attract a wide range of new specialist and generalist investors from Europe and the USA as well as receiving significant support from existing investors. I believe this is a reflection of the strength of our pipeline and our well validated Nanobody platform combined with the fact that we have delivered on all the promises we made at the IPO. We will now have increased flexibility to advance programmes through to clinical proof-of-concept, potentially commercialise our orphan drug programme, ALX-0681, ourselves and/or co-invest in development alongside our pharmaceutical partners, in return for a greater share of the value we create. We believe all these activities will considerably enhance Ablynx's future potential."
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