New York, NY -- (SBWIRE) -- 12/21/2020 -- Trades on Nasdaq under the ticker "NBTX"
French nanomedicine company, Nanobiotix, announced the pricing of its previously announced IPO on the Nasdaq Global Select Market with an increase of 7,300,000 new ordinary shares, with 5,445,000 ordinary shares for a public offering on the American Depository Shares (ADSs), with U.S. investors receiving one share, in the U.S. Additionally, there will be a concurrent offering of 1,855,000 ordinary shares in specific jurisdictions outside of the U.S. to particular investors.
On December 11, 2020, the offering price of the shares was set at USD 13.50 per ADS for the U.S. Offering and an equivalent offering price of €11.14 per New Share according to the exchange rate decided by European Central Bank on December 10, 2020. The underwriters of the Global Offering have exercised their rights to purchase 1,095,000 additional ADSs at the same offering price of USD 13.50 per ADS and the closing of these shares is expected to commence on December 18, 2020.
After the additional closing, the total number of ordinary shares offered for public offering sums up to 8,395,000, bringing up the total proceeds of its Global Offering to nearly USD 113.3 million and the aggregate net proceeds to Nanobiotix will amount to USD 100.4 million. The net proceeds are calculated following the deduction of underwriting commission and projected offering expenses payable by Nanobiotix. The firm has provided all the securities sold in the Global Offering.
According to the company, the net proceeds from the global offering and those from the purchase of additional ADS, combined with its financial holdings, will amount to sufficient funding for its operations till Q2 2023. The company's ordinary shares are listed in Paris on Europe's largest stock exchange, Euronext with the ticker "NANO." Nanobiotix's ADSs began trading on the Nasdaq Global Select Market under the "NBTX" ticker symbol on December 11, 2020.
Nanobiotix's Efforts to Alter the Dimensions of Cancer Immunotherapies
Nanobiotix, headquartered in Paris, is a clinical-stage biotechnology firm that incorporates nanomedicine to design and develop new radiotherapy procedures for cancer patients. The company is a pioneer in formulating new approaches to radically change patient outcomes by applying nanophysics to cancer research. Nanobiotix's novel and exclusive technology, NBTXR3 aim to provide benefits of radiotherapy to millions of cancer patients.
Nanotechnology refers to the application of materials, devices, or functionalized structures at the molecular or macromolecular and atomic scales. Numerous nanomedicines and nanoparticle drugs have received FDA's Investigational New Drug (IND) approval. Nanotechnology in cancer research extends beyond the model of drug delivery and into the creation of new therapeutics sing nanomaterial properties.
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