Benzinga | Feb 3, 2021 05:45AM EST

argenx Raised $1B in Gross Proceeds in Global Offering; Sold 1.6M ADS's @$320/ADS

argenx SE (NASDAQ:ARGX) announced today the pricing of a global offering of ordinary shares represented by American Depository Shares (ADSs) in the United States and certain other countries outside of European Economic Area and a simultaneous private placement of ordinary shares in the European Economic Area and the United Kingdom. The Company anticipates total gross proceeds of approximately $1.0 billion (approximately 830.3 million) from the sale of 1,608,000 ADSs at a price of $320.00 per ADS and the sale of 1,517,000 ordinary shares at a price of 265.69 per ordinary share. Each of the ADSs offered in the offering represents the right to receive one ordinary share, nominal value of 0.10 per share. The U.S. offering and the European private placement are currently expected to close simultaneously on February 5, 2021, subject to customary closing conditions.

In addition, argenx has granted the underwriters of the offering a 30-day option to purchase up to 468,750 ordinary shares (which may be represented by ADSs) on the same terms and conditions.

argenx's ADSs are currently listed on the Nasdaq Global Select Market under the symbol "ARGX," and argenx's ordinary shares are currently listed on Euronext Brussels under the symbol "ARGX."

J.P. Morgan, Morgan Stanley, BofA Securities and Cowen are acting as joint bookrunning managers for the offering.