Netherlands-based argenx SE priced a public offering of 4,440,000 American depositary shares at $52 per share for expected gross proceeds of about $231 million.
The offering was upsized from the initial $150 million of shares. Each ADS represents the right to receive one ordinary share.
Argenx granted underwriters an option to buy up to an additional 666,000 ADSs, representing 15% of the shares sold in the offering.
The offering is expected to close Dec. 18, subject to customary closing conditions.
Cowen and Piper Jaffray & Co. are acting as joint book-running managers for the offering, with JMP Securities and Wedbush PacGrow as co-managers. Kempen & Co. is acting as the company's adviser in the offering.