The Life Sciences team advised Ablynx NV [Euronext Brussels and NASDAQ: ABLX] on the closing of its initial public offering totaling $200 million gross proceeds from the sale of 11,430,000 ordinary shares in the form of American Depositary Shares (ADSs) at a price of $17.50 per ADS, before underwriting discounts.Ablynx also closed the underwriters’ option to purchase an additional 1,714,500 ordinary shares in the form of ADSs at a price of $17.50 per ADS in its U.S. initial public offering, for additional gross proceeds of $30 million, before underwriting discounts. The underwriters exercised their option to purchase additional ADSs, in full, on October 26, 2017. The aggregate gross proceeds of the offering (including the proceeds of the base offering) amount to $230 million.
Ablynx is a biopharmaceutical company engaged in the development of nanobodies, proprietary therapeutic proteins based on single-domain antibody fragments, which combine the advantages of conventional antibody drugs with some of the features of small-molecule drugs.
For more information on the offering, please read the press release.