Celyad SA is planning to sell 2 million ordinary shares in a global offering.
The global offering comprises an offer of ordinary shares in the form of American depositary shares in the U.S., Canada and certain countries outside of Europe, and a concurrent private placement in Europe and certain countries outside of the U.S. and Canada.
Each ADS offered in the U.S. represents the right to receive a single ordinary share.
The Belgian company also plans to grant underwriters a 30-day option to buy up to an additional 300,000 ordinary shares, which can be in the form of ADSs.
The ordinary-share offering and the concurrent private placement constitute a single offering of securities and will proceed simultaneously. The total number of shares in both share sales is subject to reallocation between them.
The size and price per share for the offerings will be determined following the bookbuilding process.
Meanwhile, trading of the company's shares will be suspended on the Euronext Brussels and Euronext Paris until the global offering is priced.
Wells Fargo Securities LLC, William Blair & Co. LLC and Bryan Garnier & Co. Ltd. are acting as joint book-running managers for the offering. Kempen & Co. USA Inc. is acting as co-manager for the offering, while LifeSci Capital LLC is Celyad's adviser.
Celyad is a biopharmaceutical company that develops chimeric antigen receptor T-cell, or CAR-T, therapies. CAR-T cell therapies involve infusing patients with lab-enhanced versions of their own cells to help fight cancer cells.
