Innate Pharma Announces Closing of Global Offering
October 21 2019 - 4:11PM
INNATE PHARMA S.A. (Euronext Paris: IPH – ISIN:
FR0010331421; Nasdaq: IPHA) (“Innate Pharma” or
the “Company”), a French biotechnology company
focused on discovering, developing and commercializing
first-in-class therapeutic antibodies designed to harness the
immune system for the treatment of oncology indications with
significant unmet medical need, today announced the closing of its
previously announced global offering to specified categories of
investors of an aggregate of 14,375,000 new ordinary shares,
comprising an offer of 9,922,227 ordinary shares in the form of
American Depositary Shares (“ADSs”), each
representing one ordinary share, in the United States at
an offering price of $5.50 per ADS (the “U.S.
Offering”), and a concurrent private placement of
4,452,773 ordinary shares
in Europe (including France) and other countries
outside of the United States at the corresponding offering
price of €4.97 per ordinary share (the “European Private
Placement,” and together with the U.S. Offering, the
“Global Offering”). Aggregate gross proceeds of
the Global Offering, before deducting underwriting commissions and
estimated expenses payable by the Company, were approximately $79.1
million (€71.4 million1). All of the ADSs and ordinary shares in
the Global Offering were offered by Innate.
Innate Pharma's ordinary shares are listed on
Euronext Paris under the symbol “IPH” and its ADSs are listed on
the Nasdaq Global Select Market under the symbol “IPHA”. The ADSs
began trading on the Nasdaq Global Select Market on October 17,
2019.
Citigroup Global Markets Inc., SVB Leerink LLC
and Evercore Group LLC acted as joint bookrunners for the U.S.
Offering and Citigroup Global Markets Limited acted as global
coordinator for the European Private Placement. Namsen Capital
acted as capital markets advisor to the Company.
A registration statement relating to these
securities, including a prospectus, was declared effective by the
U.S. Securities and Exchange Commission (“SEC”) on
October 16, 2019. The registration statement can be accessed
through the SEC’s website at www.sec.gov. This press release does
not constitute an offer to sell or the solicitation of an offer to
buy securities, and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of that jurisdiction.
About Innate Pharma:
Innate Pharma is a commercial stage
oncology-focused biotech company dedicated to improving treatment
and clinical outcomes for patients through therapeutic antibodies
that harness the immune system to fight cancer.
Innate Pharma’s commercial-stage product,
Lumoxiti, in-licensed from AstraZeneca, was approved by the FDA in
September 2018. Lumoxiti is a first-in class specialty oncology
product for hairy cell leukemia (HCL). Innate Pharma’s broad
pipeline of antibodies includes several potentially first-in-class
clinical and preclinical candidates in cancers with high unmet
medical need.
Innate Pharma has been a pioneer in the
understanding of NK cell biology and has expanded its expertise in
the tumor microenvironment and tumor-antigens, as well as antibody
engineering. This innovative approach has resulted in a diversified
proprietary portfolio and major alliances with leaders in the
biopharmaceutical industry including Bristol-Myers Squibb, Novo
Nordisk A/S, Sanofi, and a multi-products collaboration with
AstraZeneca.
Innate Pharma is a public company listed in
compartment B of Euronext’s regulated market in Paris (Euronext:
IPH - ISIN: FR0010331421) and in the Nasdaq Global Select Market
(Nasdaq: IPHA).
Disclaimer:
The attention of investors is drawn to the risks
described in the Company's Registration Statement on Form F-1 filed
with the SEC. All forward-looking statements are based on
information available to the Company on the date of this press
release, and the Company undertakes no obligation to update any of
the forward-looking statements after the date of this press
release.
For additional information, please
contact:
Investor relations Innate
PharmaDanielle Spangler Tel.: +1 917 499
6240Danielle.Spangler@innate-pharma.fr Jérôme Marino Tel.: +33 (0)4
30 30 30 30investors@innate-pharma.com |
Media Innate PharmaTracy Rossin
(Global/US)Tel.: +1 240 801 0076Tracy.Rossin@innate-pharma.com
ATCG Press Marie Puvieux (France)Tel.: +33 (0)9 81
87 46 72innate-pharma@atcg-partners.com |
Disclaimer
This press release constitutes an advertisement
and is not a prospectus within the meaning of Regulation (EU)
2017/1129 (the "Prospectus Regulation"). The
listing prospectus, approved by the Autorité des marchés financiers
(the “AMF”) under visa number 19-494, is available
on the Company's website (www.innate-pharma.com) and on the AMF's
website (www.amf-france.org). The contents of the Company’s website
are not incorporated by reference into this press release, the
Registration Statement (including prospectus) or any other document
related to the Global Offering.
European Economic Area:
No action has been or will be taken to offer the
Company's shares to a retail investor established in the European
Economic Area as part of the Global Offering. For the purposes of
this paragraph:
- The expression "retail
investor" means a person who is one (or more) of:
- a retail client as defined in point (11) of Article 4(1) of
Directive 2014/65/EU (as amended, “MiFID II”);
or
- a customer within the meaning of Directive 2016/97/EU, as
amended, where that customer would not qualify as a professional
client as defined in point (10) of Article 4(1) of MiFID II;
or
- not a “qualified investor” as defined in the Prospectus
Regulation; and
- the expression “offer” means any communication
in any form and by any means of sufficient information on the terms
of the offer and securities to be offered so as to enable an
investor to decide to purchase or subscribe these securities.
France:
The ordinary shares of the Company in the Global
Offering will not be offered or sold, directly or indirectly, to
the public in the Republic of France, to other persons than
qualified investors. Any offer or sale of ordinary shares of the
Company or any distribution of offering documents has not and will
not been implemented in France other than to qualified investors as
defined by article 2(e) of Prospectus Regulation and in accordance
with articles L. 411-1 and L. 411-2 of the French Code monétaire et
financier.
United Kingdom:
This press release is only directed at (i)
persons who are outside the United Kingdom, (ii) persons who have
professional experience in matters relating to investments and are
investment professionals as defined within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the “Order”), (iii) person falling within
Article 49(2)(a) to (d) ("high net worth bodies corporate,
unregistered association") of the Order, or (iv) persons to whom
this press release could be directed to in accordance with the law
(persons referred to in paragraphs (i), (ii), (iii) et (iv)
together being referred to as “Relevant Persons”).
The shares of the Company in the Global Offering are solely
directed to the Relevant Persons and any offer or any other
contract relating to the subscription, the sale or the acquisition
of the ordinary shares of the Company in the Global Offering can
only be directed to or entered with the Relevant Persons. Any
person that is not a Relevant Person should not act or rely on this
document or any of its content.
This press release is not an approved prospectus
by the Financial Services Authority or by any other regulatory
authority in the United Kingdom within the meaning of Section 85 of
the Order.
_________________________1 Based on an exchange rate of €1 =
$1.1065 on October 16, 2019
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