BioNTech SE priced its Nasdaq IPO of American depositary shares at $15 per unit, a day after lowering the price range and downsizing the share count.
Mainz, Germany-based BioNTech is now offering 10 million ADSs, where each ADS represents one ordinary share.
The ADSs will start trading on the Nasdaq Global Select Market on Oct. 10, under the ticker symbol BNTX. The offering is expected to close Oct. 15.
The company expects $150 million in gross proceeds and will use the funds partly to advance the clinical development of its cancer drug candidates BNT111, BNT113 and BNT114 and further other product candidates through phase 1 clinical trials. The funds will also be used for expanding its manufacturing and laboratory capacity.
J.P. Morgan, BofA Merrill Lynch, UBS Investment Bank and SVB Leerink are acting as lead joint book-running managers for the offering. Canaccord Genuity, Bryan Garnier & Co. and Berenberg are acting as joint book-running managers for the offering, and Wolfe Capital Markets and Advisory, Kempen and Mirae Asset Securities are acting as co-managers.
