The Life Sciences IPOs and Capital Markets team advised the underwriters of Genenta Science S.p.A.’s (Nasdaq: GNTA) upsized initial public offering, making history as the first Italian biotech to be listed on the Nasdaq.
The offering consisted of 2.4 million American Depositary Shares at a public offering price of $11.50 per ADS. Genenta also sold 720,114 ordinary shares reserved for subscription by its existing shareholders at a price of $11.50 per share. The gross proceeds from the offering, including ordinary shares, were approximately $36 million before deducting underwriting and advisory fees and offering expenses. Genenta has granted the underwriters an option for a period of 30 days from the date of the final prospectus to purchase an additional 360,000 ADSs, which, if exercised in full, will increase gross proceeds from the offering to approximately $40 million.
Genenta is a clinical-stage biotechnology company pioneering the development of hematopoietic stem progenitor cell immuno-gene therapy for solid tumors, including the lead product candidate, Temferon™.
Roth Capital Partners and Maxim Group acted as underwriters of the offering.
The Goodwin team was led by Thomas Levato and Ettore Santucci and included, among others, Kristen Kennedy, Mingshu Liu, and Adanna Uwazurike for capital market matters, Alexander Varond and Elizabeth Mulkey for regulatory matters, and Suhrid Wadekar for intellectual property matters.