logo
Plus   Neg
Share
Email

Innate Pharma Prices IPO Of 12.50 Mln Shares At $5.50/ADS

Innate Pharma S.A., a French biotechnology company focused on therapeutic antibodies, announced Thursday the pricing of its initial public offering of 12.50 million shares at $5.50 per American Depositary Shares or ADS and at 4.97 euros per ordinary share.

The aggregate gross proceeds amount to approximately $68.8 million, equivalent to approximately 62.1 million euros.

The offering price per ordinary share in euros represents a discount of 14.8% from the reference price determined by the Company earlier.

The IPO is on the Nasdaq Global Select Market by way of a capital increase of 12.50 million new ordinary shares, consisting of a public offering of 8.05 million ordinary shares in the form of ADSs. Each ADS represents one ordinary share.

The offering also includes a concurrent private placement of 4.45 million ordinary shares in Europe, including in France, and other countries outside of the United States.

In the IPO, Citigroup Global Markets Inc., SVB Leerink LLC and Evercore Group L.L.C. are acting as joint bookrunners for the U.S. Offering. Citigroup Global Markets Limited is acting as global coordinator for the European Private Placement.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford has revived the iconic Bronco brand after a gap of 24 years, this time as a dedicated off-road brand aiming to take on Fiat Chrysler's Jeep Wrangler, the dominant vehicle in the off-road category. Ford has introduced three new vehicles under the all-new Bronco brand as a 4x4 family of rugged SUVs under the tagline, "Built Wild". 3M Co. is teaming with researchers at Massachusetts Institute of Technology or MIT to develop a new rapid antigen test that detects the COVID-19 virus. The research, being conducted at the pilot lab facility at 3M's headquarters in St. Paul, Minnesota, is to learn if a simple-to-use, diagnostic device can produce highly accurate results within minutes and is feasible to mass manufacture. Retail giant Walmart has teamed up with the U.S. Department of Agriculture (USDA) to enable customers who pay for groceries with SNAP benefits, to gain access to Walmart's pickup and delivery service. Nearly 3,000 Walmart stores in 39 U.S. states are now offering customers receiving SNAP benefits through their Electronic Benefit Transfer (EBT) card to complete payments using the EBT card.
Follow RTT