Abivax SA (Euronext Paris: FR0012333284 – ABVX), a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the immune response in patients with chronic inflammatory diseases, closed its previously announced initial public offering on the Nasdaq Global Market.
The IPO consisted of a capital increase of 20,325,500 new ordinary shares, including a public offering of 18,699,460 ordinary shares in the form of American Depositary Shares (“ADSs”), each representing the right to receive one ordinary share, in the United States and a concurrent offering of 1,626,040 ordinary shares in certain jurisdictions outside of the United States to certain investors.
The offering price was set at $11.60 per ADS in the U.S. Offering and a corresponding offering price of €10.9864 per ordinary share in the European Private Placement. The aggregate gross proceeds amounted to approximately $235.8 million, equivalent to approximately €223.3 million, before deduction of underwriting commissions and estimated expenses payable by the company. All of the ADSs and ordinary shares in the Global Offering were offered by Abivax.
Abivax’s ordinary shares are listed on Euronext Paris under the symbol “ABVX” and its ADSs are listed on the Nasdaq Global Market under the symbol “ABVX”.
The ADSs began trading on the Nasdaq Global Market on October 20, 2023.
Abivax is a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the immune response in patients with chronic inflammatory diseases. Based in France and the U.S., Its lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis.
FinSMEs
24/10/2023