Celyad SA priced an offering of 523,913 American depositary shares at $26.28 each.
The Belgian biopharmaceutical company is also looking to sell 1,276,087 common shares at €22.29 apiece.
All in all, the company expects to raise $47.3 million in a global offering that closes May 22.
Wells Fargo Securities LLC and Bryan Garnier & Co. are acting as the joint book-running managers for the offering.
Bank Degroof Petercam NV and LifeSci Capital LLC are acting as co-managers for the offering. Kempen & Co. NV is Celyad's adviser in the offering.
The offering's underwriters can buy an additional 270,000 shares from the company.