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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.

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