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Ablynx prices global offering

Belgian Nanobody® producer Ablynx NV said it aims to raise US$175m of its ordinary shares in a global offering, comprised of a public offering of American Depositary Shares (“ADS”) in the US and Canada and an offer of ordinary shares in other countries through a private placement. 

The proceed will be used to finance Phase III studies of caplacizumabAblynx intends to grant the underwriters a 30-day option to purchase additional ordinary shares in the form of ADSs in connection with the ADS offering and a 30-day option to purchase additional ordinary shares in connection with the ordinary share private placement, up to 15% of the total number of ordinary shares and ADSs placed in the global offering. The total number of ordinary shares in the ADS offering and the private placement is subject to reallocation between them.

The final price per share of the ordinary shares and of the ADSs and the number of new ordinary shares and ADSs to be placed in the global offering will be determined following the bookbuilding process. Each of the ADSs offered in the ADS offering represents the right to receive one ordinary share. Issuing an initiation of coverage research report on Addex Therapeutics, the independent life science research company Van Leeuwenhoeck estimated the current risk-adjusted net present value (NPV) of CHF 11.5 per share (ADXN) closing share price.

All ordinary shares and ADSs to be sold in the global offering will be offered by Ablynx. Ablynx’s ordinary shares are currently listed on Euronext Brussels and Ablynx has made an application to have its ADSs listed on the NASDAQ Global Select Market under the symbol “ABLX”. An application will be made to admit the ordinary shares issued pursuant to the global offering, to trading on the regulated market of Euronext Brussels.

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