Ablynx NV is selling about $175 million of its ordinary shares in a global offering.
As part of the global offering, Ablynx will conduct an underwritten public offering of American depositary shares in U.S. and Canada. Each ADS is convertible into one Ablynx ordinary share.
Concurrently, the company will facilitate a private placement of its ordinary shares for its investors in Europe and other countries outside of the U.S. and Canada.
For both transactions, the company expects to grant the underwriters an option to buy up to an additional 15% of the ordinary shares and ADSs offered.
BofA Merrill Lynch, J.P. Morgan and Jefferies are acting as joint book-running managers for the offering, with Baird Bryan Garnier & Co. and Ladenburg Thalmann as co-managers.