Celyad SA closed its global offering of 2,070,000 ordinary shares for gross proceeds of about $54.4 million.
The offering is comprises 568,500 ordinary shares in the form of American depositary shares, priced $26.28 per ADS, and 1,501,500 ordinary shares priced €22.29 per share. Each ADS represents the right to receive a single ordinary share.
The number of ADSs and ordinary shares sold under the offering includes the full exercise of the underwriters' option.
The Belgian biotech's ADSs are listed on the Nasdaq global select market under the CYAD symbol, while its ordinary shares are listed on Euronext Brussels and Euronext Paris.
Wells Fargo Securities LLC and Bryan Garnier & Co. acted as joint book-running managers for the offering. Bank Degroof Petercam NV was a co-manager for the private placement while LifeSci Capital LLC was a co-manager for the global offering.
Kempen & Co. NV was Celyad's adviser regarding the offering.
Celyad develops chimeric antigen receptor T-cell therapies — a method of modifying a patient's immune cells to fight cancer.
