Bicycle Therapeutics Announces Pricing of $200 Million Public Offering of American Depositary Shares and Non-Voting Ordinary Shares
13 Luglio 2023 - 4:23AM
Business Wire
Bicycle Therapeutics plc (Nasdaq: BCYC), a biotechnology company
pioneering a new and differentiated class of therapeutics based on
its proprietary bicyclic peptide (Bicycle®) technology, today
announced the pricing of an underwritten public offering of
9,411,766 American Depositary Shares (“ADSs”), each representing
one ordinary share and, in lieu of ADSs to investors that so
choose, non-voting ordinary shares, each at a price to the public
of $21.25 per share, for gross proceeds of approximately $200.0
million. In addition, Bicycle has granted the underwriters in the
offering a 30-day option to purchase up to 1,411,764 additional
ADSs at the public offering price. The offering is expected to
close on or about July 17, 2023, subject to customary closing
conditions.
Bicycle plans to use the net proceeds from the offering to fund
the continued development of its proprietary pipeline and for other
research and development, as well as for general corporate
purposes.
Goldman Sachs & Co. LLC, Jefferies and Leerink Partners are
acting as joint book-running managers for the offering.
The offering is being made pursuant to a “shelf” registration
statement on Form S-3ASR that was filed by Bicycle with the
Securities and Exchange Commission (“SEC”) and automatically became
effective upon filing. A preliminary prospectus supplement and
accompanying prospectus relating to and describing the terms of the
offering have been filed with the SEC and are available on the
SEC’s website at www.sec.gov. Copies of the preliminary prospectus
supplement, final prospectus supplement and accompanying
prospectus, when available, may be obtained from: Goldman Sachs
& Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, New York 10282, telephone: 1-866-471-2526, or by email at
prospectus-ny@ny.email.gs.com; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, New
York 10022, or by email at Prospectus_Department@Jefferies.com; or
SVB Securities LLC, Attention: Syndicate Department, 53 State
Street, 40th Floor, Boston, Massachusetts 02109, by telephone at
(800) 808-7525, ext. 6105, or by email at
syndicate@leerink.com.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains forward‐looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,”
“estimate,” “intend” and similar expressions (as well as other
words or expressions referencing future events, conditions or
circumstances) are intended to identify forward-looking statements.
Certain statements contained in this press release, including those
relating to the timing and completion of the offering and the
satisfaction of customary closing conditions related to the
offering, the anticipated total gross proceeds from the offering
and the planned use of proceeds of the offering, are
forward‐looking statements that involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in the forward‐looking statements. These risks and
uncertainties include, but are not limited to, risks and
uncertainties associated with the consummation of the offering, the
completion of the offering on the anticipated terms or at all,
uncertainties related to market conditions, the satisfaction of
customary closing conditions related to the offering, and general
economic conditions. Other factors that may cause actual results to
differ from those expressed or implied in the forward-looking
statements in this press release are discussed in Bicycle’s filings
with the SEC, including under the heading “Risk Factors” contained
therein, as well as the risks identified in the registration
statement and the preliminary prospectus supplement relating to the
offering to be filed with the SEC, which are available at
www.sec.gov. The forward-looking statements in this press release
speak only as of the date of this document. Except as required by
law, Bicycle assumes no obligation to update any forward-looking
statements contained herein to reflect any change in expectations,
even as new information becomes available. Bicycle’s business is
subject to substantial risks and uncertainties, including those
referenced above. Investors, potential investors, and others should
give careful consideration to these risks and uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20230712259769/en/
David Borah, CFA SVP, Capital Markets & Corporate
Communications david.borah@bicycletx.com 617-203-8300
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