Syncona puts £18m into Autolus Therapeutics' US IPO
Healthcare investment company Syncona said on Tuesday that its portfolio company, Autolus Therapeutics, has confirmed the closing of its previously-announced underwritten public offering in the United States of 4,830,000 American depositary shares (ADS).
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The FTSE 250 firm said those ADS shares represented 4,830,000 ordinary shares, and were sold at a public offering price of $24 each, which included an additional 630,000 ADS shares issued upon the exercise in full of the underwriters' option to purchase additional ADSs.
Aggregate net proceeds to Autolus, after underwriting discounts but before estimated offering expenses, were $109m.
All of the ADS shares were offered by Autolus.
“Syncona agreed to invest $24m (£18.3m) in the offering,” the company’s board said in its statement.
“Following the offering, Syncona retains a stake of 30.0% in Autolus - amounting to 14,592,098 ordinary shares - which was valued at £311.8m at close of business on 15 April.”