Date: 2015-03-24
Type of information: IPO
Company: Summit Therapeutics (UK)
Investors:
Amount: $ 39.3 million
Funding type: IPO
Planned used:
Others: * On March 24, 2015, Summit Therapeutics announced that on 23 March 2015 it received a notification of exercise in respect of options granted over 16,777 new ordinary shares in the Company at an exercise price of 65 pence per share and 10,607 new ordinary shares in the Company at an exercise price of 20 pence per share. Consequently the Company has issued and allotted 27,384 new ordinary shares in the Company. An application has been made for the 27,384 new ordinary shares to be admitted to AIM and admission is expected to occur on or around 27 March 2015. Following this issue of equity above the Company’s issued share capital will comprise of 60,982,581 ordinary shares of 1 penny each. * On March 18, 2015, Summit Therapeutics announced that the underwriters of its initial public offering have exercised in full their over-allotment option to purchase an additional 517,500 American Depositary Shares at the initial public offering price of $9.90 per ADS, less underwriting discounts and commissions. After the over-allotment closing, the total number of ADSs sold by Summit in its initial public offering has increased to 3,967,500. All of the ADSs in the offering were sold by Summit and are trading on the NASDAQ Global Market under the ticker symbol “SMMT”. Summit’s ordinary shares will continue to trade on the AIM market of the London Stock Exchange under the ticker symbol “SUMM”. Each ADS represents five ordinary shares of Summit. Application has been made for the 2,587,500 new ordinary shares in the Company, represented by the 517,500 ADSs, to be admitted to trading on the AIM market and it is expected that dealing in these ordinary shares will commence at 8:00am GMT on 20 March 2015. * On March 10, 2015, Summit Therapeutics announced the closing of its initial public offering of 3,450,000 American Depositary Shares at a public offering price of $9.90 per ADS, before underwriting discounts and commissions. All of the ADSs in the offering were sold by Summit and are trading on the NASDAQ Global Market under the ticker symbol “SMMT”. Summit’s ordinary shares will continue to trade on the AIM market of the London Stock Exchange. * On March 5, 2015, Summit Therapeutics announced the pricing of its underwritten initial public offering of 3,450,000 American Depositary Shares at a public offering price of $9.90 per ADS, before underwriting discounts and commissions. The ADSs have been approved for listing on the NASDAQ Global Market. Summit’s ordinary shares will continue to trade on the AIM market of the London Stock Exchange following the offering. * On February 23, 2015, Summit Therapeutics announced that, further to the notification on 2 February 2015 of the filing of a registration statement with the United States Securities and Exchange Commission for a proposed offering of American Depositary Shares in the United States and listing on the NASDAQ Global Market, the Company filed on 20 February 2015 an amended registration statement with the SEC, which included a preliminary prospectus for the offering * On February 2, 2015, Summit,announced that it has publicly filed a registration statement with the United States Securities and Exchange Commission for a proposed offering of American Depositary Shares (\\\"ADSs\\\") in the United States and has applied for listing on the NASDAQ Global Market. The Company has applied to have its ADSs listed on NASDAQ under the ticker symbol \\\'SMMT\\\'. Following completion of the offering of the ADSs, Summit ordinary shares will continue to be admitted to trading on the AIM market of the London Stock Exchange. JMP Securities LLC and Oppenheimer & Co. Inc. are acting as joint book-running managers for the offering, with Needham & Company, LLC acting as lead manager. * On December 9, 2014, Summit announced that it is considering the possibility of a registered public offering of its ordinary shares in the United States under the U.S. Securities Act of 1933, as amended, and a related listing on a U.S. stock exchange to supplement its current listing on the AIM market of the London Stock Exchange. Summit has not made any decision regarding the timing or the terms of the potential offering, and there is no certainty that the offering will take place.
Therapeutic area: Infectious diseases - Neuromuscular diseases - Rare diseases
