Nanobiotix S.A. (NBTX), a late-stage biotechnology company, on Thursday announced pricing of a follow-on global offering consisting of a public offering and an offering exclusively for qualified investors in Europe.
The public offering consists of 225,373 American Depositary Shares (ADSs), each representing 0.03 nominal value per share of the company's ordinary shares at an offering price of $39.98 per share.
The offering to European investors consists of 1,959,289 ordinary shares and 345,099 pre-funded warrants to subscribe for one ordinary share each at a subscription price of €35.60. The pre-funded warrants will remain exercisable till May 26, 2036.
The aggregate gross proceeds from the global offering are estimated to be $98.6 million. If all pre-funded warrants are exercised, an additional $12,000 in proceeds is expected.
The company stated that 10% of proceeds will be used to advance JNJ-1900, a novel radio enhancer targeting solid tumors. 50%-60% of proceeds are expected to be utilized to develop its Nanoprimer platform, and 30%-40% for general corporate purposes.
The aggregate proceeds will reportedly be sufficient to supplement funds for the company's operations into 2029.
The global offering is expected to close on May 26, 2026.
NBTX is currently trading at $39.53, down 8.41%.
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