Date: 2015-06-24
Type of information: IPO
Company: Celyad (Belgium)
Investors:
Amount: €88.0 million ($100.1 million)
Funding type: IPO
Planned used: The principal purposes of the global offering are to increase the financial flexibility of the Company, create a public market for Celyad’ securities in the United States and facilitate its access to the public equity markets. As heart failure (HF) programs, in particular the development of C-Cure® through Phase III clinical development as a treatment for ischemic HF; are fully funded, Celyad currently expects to use the net proceeds from the global offering to advance the development of NKG2D CAR T-cell through Phase I clinical development as a treatment for AML (acute myeloid leukemia) and MM (multiple myeloma); to advance additional CAR T-cell therapy drug product candidates for the treatment of additional blood cancers and solid tumors; and to support its growth globally by expanding general, administrative and operational functions in the headquarters in Belgium and in the United States.
Finally, Celyad expects to use the remainder of any net proceeds from the global offering for working capital and other general corporate purposes, but also to in-license, acquire or invest in complementary technologies, products or assets.
Others: * On June 24, 2015, Celyad announced the closing of its global offering of 1,460,000 ordinary shares, consisting of an underwritten public offering of 1,168,000 American Depositary Shares, at a price of $68.56 per ADS, before underwriting discounts, and a concurrent European private placement of 292,000 ordinary shares at a price of €60.25 per share, before underwriting discounts, for gross proceeds of approximately €88.0 million ($100.1 million). All of the ordinary shares and the ADSs were offered by Celyad. Each of the ADSs offered represents the right to receive one ordinary share. Celyad\'s ordinary shares are listed on Euronext Brussels and Euronext Paris under the symbol \"CYAD.\" The ADSs are listed on the NASDAQ Global Market under the symbol \"CYAD.\" UBS Investment Bank and Piper Jaffray & Co. acted as joint book-running managers, and Petercam SA, Bryan, Garnier & Co., LifeSci Capital LLC and Lake Street Capital Markets, LLC acted as co-managers for the global offering. * On June 19, 2015, Celyad announced the pricing of its global offering totaling $100.1 million gross proceeds of 1,460,000 new ordinary shares, consisting of 1,168,000 American Depositary Shares at $68.56 per ADS, and 292,000 ordinary shares at a price of EUR 60.25 per share, both before underwriting discounts. These shares were placed in a concurrent public offering in the United States and private placement in Europe (together the “global offering”). The price per ADS was based on EUR 60.25 per ordinary share at an exchange rate of $ 1.1380 per Euro. In addition, Celyad has granted the underwriters an option to purchase up to an additional 175,200 new ordinary shares in the form of ADSs and an option to purchase up to an additional 43,800 new ordinary shares, representing 15% of the ordinary shares and ADSs placed in the global offering. This option can be exercised during the 30 day period commencing 18 June 2015. The closings of the ADS offering and the concurrent private placement are conditioned on each other and are expected to occur on 24 June 2015, subject to customary closing conditions. * On May 18, 2015, Celyad announced that it filed a Registration Statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed global offering of ordinary shares, including ordinary shares in the form of American Depositary Shares (“ADSs”). The number of ordinary shares, including shares in the form of ADSs, to be offered, and the price for the proposed global offering have not been determined.
Therapeutic area: Cardiovascular diseases - Regenerative diseases
