argenx announces private placement of 2,703,000 new shares for an aggregate amount of €30 million with institutional investors
June 01, 2016
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Breda, the Netherlands / Ghent, Belgium – argenx (Euronext Brussels: ARGX), a clinical-stage biopharmaceutical company focused on creating and developing differentiated therapeutic antibodies for the treatment of cancer and severe autoimmune diseases, today announced that it entered into placement agreements with predominantly US institutional investors relating to the issue of a total of 2,703,000 new shares for an aggregate amount of €30,003,300. The issue price per new share in the financing is €11.10 and represents a discount of 2.6 % compared to the €11.40 closing price of the argenx share on Euronext Brussels on 31 May 2016.
The transaction was led by MPM Oncology Impact Fund with participation from Aquilo Capital, Burrage Capital, Dafna Capital, Perceptive Advisors and certain other existing and new institutional investors.
Following the completion of the transaction, the new shares will represent 13.49% of the total issued shares of argenx. The subscription agreements are subject to customary conditions precedent including listing of the new shares on Euronext Brussels. The aim is to close the transaction in the coming days.
argenx combines the diversity of the llama immune system with antibody engineering to advance a clinical pipeline to treat patients with cancer and autoimmune diseases. Our platforms allow us to unlock novel and complex targets and develop antibody-based drugs designed for greater efficacy and longer duration of effect. The strength of our team, our deep understanding of the biology, and our committed collaborations with industry leaders contribute to the success of our journey.
argenx is listed on the Euronext Brussels exchange under the symbol ARGX.
For further information, please contact:
Joke Comijn, Corporate Communications Manager
+32 (0)477 77 29 44
+32 (0)9 243 40 70
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
This release is not an offer of securities for sale in the United States of America. The securities referred to in this press release have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Securities may not be offered or sold absent registration or an applicable exemption from registration or in a transaction not subject to the registration requirements of the Securities Act. Any public offering of securities to be made in the United States of America would be made by means of a prospectus and would contain detailed information about the Company and management, as well as financial statements. There will be no public offer of the securities in the United States of America.
The contents of this announcement include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “may”, “will”, or “should”, and include statements argenx makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. argenx’ actual results may differ materially from those predicted by the forward-looking statements. argenx undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.