LEI:
549300Q7EXQQH6KF7Z84
20 February
2024
RTW Biotech Opportunities
Ltd
Post-transaction Manager NAV
Estimate
RTW Biotech Opportunities Ltd (the
"Company" or "RTW Bio") announces that the unaudited,
indicative and estimated pro forma net asset value attributable to
ordinary shareholders of the Company (the "Indicative and Estimated NAV") as at
the closing of the Arix transaction (the "Transaction") on 12 February 2024 was
US$644.2 million, equivalent to US$1.88 per ordinary
share.
The Indicative and Estimated NAV and
NAV per share are unaudited figures that have been prepared by the
Company's Manager. They were calculated based on the following
assumptions and calculations:
· transfer of all Arix assets as agreed in the Transaction less
certain Arix cash and assets left with Arix's
liquidator;
· the
price of RTW Bio and Arix public securities at market close on 12
February 2024;
· foreign exchange rates on 12 February 2024;
· RTW
Bio's private assets valued as of 31 January 2024;
· Arix
private assets valued at Manager's anticipated future holding
valuation under RTW's valuation methodology;
· estimated transaction fees incurred by RTW Bio in the
Transaction;
· cancellation of the holding value of Arix shares resulting
from the previously announced Acacia stake purchase;
· return
of some reasonably expected excess capital held by the Arix
liquidator;
· does
not include a provision for performance allocation; and
· 342,713,649
shares used as the denominator for the per share
calculation. As per the "Completion of
Acquisition" announcement published on 13 February 2024, the
calculation of the denominator excludes 48,322,863 New RTW Bio
Shares issued to RTW Biotech Opportunities Operating Ltd in respect
of its shareholding in Arix held by the Company.
The Indicative and Estimated NAV is
an unaudited figure. The assumptions and calculations are believed
to be valid as at the date of this announcement but may be subject
to change. In particular, shareholders should be aware that the
valuation of the Arix private assets, valued for this purpose at
the Manager's anticipated future holding valuation, may change
materially as RTW's valuation methodology is applied over the
coming months.
For
Further Information:
RTW
Investments, LP
|
+44
20 7959 6361
|
Woody Stileman, Managing Director,
Business Development
Krisha McCune, Director, Investor
Relations
|
ir@rtwfunds.com
|
|
|
Buchanan (PR & Communications Adviser)
|
+44
20 7466 5107
|
Charles Ryland
|
|
Henry Wilson
|
|
George Beale
|
|
|
|
Deutsche Numis (Joint Corporate Broker)
|
+44
20 7260 1000
|
Freddie Barnfield
|
|
Nathan Brown
|
|
Euan Brown
|
|
|
|
BofA Securities (Joint Corporate Broker)
|
+44
20 7628 1000
|
Edward Peel
|
|
Alex Penney
|
|
Cadarn Capital (Distribution & IR
Partner)
|
+44
73 6888 3211
|
David Harris
|
|
Elysium Fund Management Limited
Joanna Duquemin Nicolle, Chief
Executive Officer
Sadie Morrison, Managing
Director
|
+44
(0) 14 8181 0100
|
Morgan Stanley Fund Services USA LLC
|
+1
914 225 8885
|
About Biotech Opportunities Ltd:
RTW Biotech Opportunities Ltd (LSE:
RTW & RTWG) is an investment fund focused on identifying
transformative assets with high growth potential across the
biopharmaceutical and medical technology sectors. Driven by a
long-term approach to support innovative businesses, RTW Biotech
Opportunities Ltd invests in companies developing next-generation
therapies and technologies that can significantly improve patients'
lives. RTW Biotech Opportunities Ltd is managed by RTW Investments,
LP, a leading healthcare-focused
entrepreneurial investment firm with
deep scientific expertise and a strong track record of supporting
companies developing life-changing therapies.
Visit the website
at www.rtwfunds.com/rtw-biotech-opportunities-ltd for
more information.