Syncona Limited Autolus announces pricing of public offering (6688A)
January 23 2020 - 2:00AM
UK Regulatory
TIDMSYNC
RNS Number : 6688A
Syncona Limited
23 January 2020
Syncona Limited
Autolus announces pricing of public offering
23 January 2020
Syncona Ltd, a leading healthcare company focused on founding,
building and funding global leaders in life science, notes that its
portfolio company, Autolus Therapeutics plc ("Autolus") today
announced the pricing of its underwritten public offering in the
United States of 7,250,000 American Depositary Shares ("ADSs")
representing 7,250,000 ordinary shares, at a public offering price
of $11.00 per ADS, for total gross proceeds of approximately $80.0
million (GBP60.7 million[1]). All ADSs sold in the offering were
offered by Autolus. Autolus also granted the underwriters a 30-day
option to purchase up to an additional 1,087,500 ADSs at the public
offering price, less underwriting discounts and commissions.
Syncona has agreed to invest $15.0 million (GBP11.4 million1) in
the offering. Following the offering, Syncona retains a stake of
approximately 28.3% in Autolus (amounting to 15,955,734 ordinary
shares) which was valued at GBP151.4 million at close of business
on 22 January 2020.
Martin Murphy, Chief Executive Officer of Syncona Investment
Management Limited and Director of Autolus, said, "Autolus has
delivered promising data in its AUTO1 adult ALL programme and we
are delighted to continue to back the business as it looks to
commence its pivotal programme in this indication in the first half
of 2020 and deliver on its ambition to take product to market. We
believe the business is well positioned to continue to develop its
exciting pipeline of next generation T cell therapies and look
forward to seeing further data from the AUTO3 programme in DLBCL in
H2 2020, which will enable Autolus to make its decision on further
clinical development, including Phase 2 initiation."
This announcement 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.
The securities are being offered pursuant to an effective shelf
registration statement that was previously filed with the U.S.
Securities and Exchange Commission ("SEC"). A preliminary
prospectus supplement to the prospectus describing the terms of the
offering was filed with the SEC on January 22, 2020, and a final
prospectus supplement will be filed with the SEC. The offering will
be made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement, which,
for the avoidance of doubt, will not constitute a "prospectus" for
the purposes of the Regulation (EU) 2017/1129 and has not been
reviewed by any competent authority in any member state in the
European Economic Area. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to the offering
may be obtained for free from either of the joint book-running
managers for the offering, J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by telephone at +1 866 803 9204 or by email at
prospectus-eq_fi@jpmchase.com; or Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, or by telephone at +1 877 821 7388 or by email at
Prospectus_Department@Jefferies.com.
[ENDS]
Enquiries
Syncona Ltd
Annabel Clay / Siobhan Weaver
Tel: +44 (0) 20 3981 7940
FTI Consulting
Ben Atwell / Natalie Garland-Collins / Tim Stamper
Tel: +44 (0) 20 3727 1000
Forward-looking statements - this announcement contains certain
forward-looking statements with respect to the portfolio of
investments of Syncona Ltd. These statements and forecasts involve
risk and uncertainty because they relate to events and depend upon
circumstances that may or may not occur in the future. There are a
number of factors that could cause actual results or developments
to differ materially from those expressed or implied by these
forward-looking statements and forecasts. Nothing in this
announcement should be construed as a profit forecast.
About Syncona
Syncona is a leading FTSE250 healthcare company focused on
founding, building and funding a portfolio of global leaders in
life science. Our vision is to build a sustainable, diverse
portfolio of 15 - 20 companies focused on delivering
transformational treatments to patients in truly innovative areas
of healthcare, through which we are seeking to deliver strong
risk-adjusted returns for shareholders.
We seek to partner with the best, brightest and most ambitious
minds in science to build globally competitive businesses. We take
a long-term view, underpinned by a strategic capital base which
provides us with control and flexibility over the management of our
portfolio. We focus on delivering dramatic efficacy for patients in
areas of high unmet need.
About Autolus
Autolus is a clinical-stage biopharmaceutical company developing
next-generation, programmed T cell therapies for the treatment of
cancer.
[1] At exchange rate on 22 January 2020
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
PFUEAAFDALPEEEA
(END) Dow Jones Newswires
January 23, 2020 02:00 ET (07:00 GMT)
Syncona (LSE:SYNC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Syncona (LSE:SYNC)
Historical Stock Chart
From Sep 2023 to Sep 2024