Gilead delivers exercise notice to Galapagos for Initial Warrant A to increase ownership to 25.1%
November 01 2019 - 4:01PM
Gilead delivers exercise notice to Galapagos for Initial Warrant A
to increase ownership to 25.1%
Mechelen, Belgium; 1 November 2019; 21:01 CET – Gilead
Therapeutics A1 Unlimited Company, an affiliate of Gilead Sciences,
Inc. (NASDAQ: GILD), delivered an exercise notice to Galapagos
NV (Euronext & NASDAQ: GLPG) in order to exercise the Initial
Warrant A. The issuance of the resulting shares is expected in the
course of next week.
The Initial Warrant A, approved by Galapagos’ shareholders on 22
October 2019, entitles Gilead to subscribe for a maximum number of
shares that is sufficient to bring the number of shares owned by
Gilead and its affiliates to 25.1% of the actually issued and
outstanding shares immediately after the issue of the shares that
are to be issued upon the exercise of the Initial Warrant A. The
Initial Warrant A has a term of one year starting as of 22 October
2019.
As per the terms of the Initial Warrant A,
Gilead will subscribe for 2,617,791 new shares at €140.59 per share
for a total of €368,035,236.69, bringing Gilead’s total ownership
to 16,207,477 Galapagos shares, which represents 25.1% of the
64,571,622 shares expected to be outstanding after exercise of the
Initial Warrant A.
About GalapagosGalapagos (Euronext & NASDAQ: GLPG)
discovers and develops small molecule medicines with novel modes of
action, three of which show promising patient results and are
currently in late-stage development in multiple diseases. The
company’s pipeline comprises Phase 3 through to discovery programs
in inflammation, fibrosis, osteoarthritis and other indications.
Galapagos’ ambition is to become a leading global biopharmaceutical
company focused on the discovery, development and commercialization
of innovative medicines. More information at www.glpg.com.
ContactsInvestors:
Media:Elizabeth
Goodwin
Carmen Vroonen VP
IR
Senior Director Communications+1 781 460
1784
+32 473 824
874
Sofie Van Gijsel
Evelyn FoxDirector IR
Director Communications+32 485 19 14
15
+31 6 53 591 999ir@glpg.com
communications@glpg.com
Galapagos Forward-Looking Statements This
release may contain forward-looking statements with respect to
Galapagos, including statements regarding the timing of completion
of the exercise of Initial Warrant A by Gilead, the issuance of
shares to Gilead, Gilead’s resulting shareholding in Galapagos and
the payment of the aggregate exercise price by Gilead to Galapagos.
Galapagos cautions the reader that forward-looking statements
are not guarantees of future performance. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which might cause the actual results, financial condition
and liquidity, performance or achievements of Galapagos, or
industry results, to be materially different from any historic or
future results, financial conditions and liquidity, performance or
achievements expressed or implied by such forward-looking
statements. In addition, even if Galapagos’ results, performance,
financial condition and liquidity, and the development of the
industry in which it operates are consistent with such
forward-looking statements, they may not be predictive of results
or developments in future periods. Among the factors that may
result in differences are that the parties may not be able to
timely complete the exercise of the Initial Warrant A or at all. A
further list and description of these risks, uncertainties and
other risks can be found in Galapagos’ Securities and Exchange
Commission (SEC) filings and reports, including in Galapagos’ most
recent annual report on Form 20-F filed with the SEC and subsequent
filings and reports filed by Galapagos with the SEC. Given
these uncertainties, the reader is advised not to place any undue
reliance on such forward-looking statements. These forward-looking
statements speak only as of the date of publication of this
document. Galapagos expressly disclaims any obligation to
update any such forward-looking statements in this document to
reflect any change in its expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statement is based or that may affect the likelihood that actual
results will differ from those set forth in the forward-looking
statements, unless specifically required by law or regulation.
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