Celyad SA priced its $20 million global offering of 2 million ordinary shares.
The global offering includes 1,717,391 ordinary shares in the form of American depositary shares at $10 apiece. These shares will be offered in the U.S., Canada and certain countries outside of Europe. The Belgian company will also offer 282,609 ordinary shares in Europe and certain countries outside of the U.S. and Canada at €9.08 apiece in a concurrent private placement.
The clinical-stage biopharmaceutical company granted underwriters a 30-day option to buy up to an additional 300,000 ordinary shares on the same terms and conditions. The additional shares purchased may be in the form of American depositary shares.
The company expects the offering to close Sept. 16.
Wells Fargo Securities LLC, William Blair & Co. LLC and Bryan Garnier & Co. Ltd. are the joint book-running managers, while Kempen & Co. USA Inc. is the co-manager for the offering. LifeSci Capital LLC is Celyad's adviser in connection with the offering.
