Bicycle Therapeutics Announces Pricing of Initial Public Offering
May 22 2019 - 8:49PM
Business Wire
Bicycle Therapeutics plc (Nasdaq: BCYC), a biotechnology company
pioneering a new class of therapeutics based on its proprietary
bicyclic peptide (Bicycle®) product platform, today announced the
pricing of its initial public offering in the United States of
4,333,333 American Depositary Shares (“ADSs”) representing
4,333,333 ordinary shares at an initial public offering price of
$14.00 per ADS, before underwriting discounts and commissions. In
addition, Bicycle has granted the underwriters a 30-day option to
purchase up to an additional 650,000 ADSs at the initial public
offering price, less the underwriting discounts and commissions.
Bicycle’s ADSs are expected to begin trading on The Nasdaq Global
Select Market on May 23, 2019 under the ticker symbol “BCYC.” All
of the ADSs are being offered by Bicycle. The gross proceeds of the
offering, before deducting underwriting discounts and commissions
and other offering expenses payable by Bicycle, are expected to be
approximately $60.7 million, excluding any exercise of the
underwriters’ option to purchase additional ADSs. The offering is
expected to close on May 28, 2019, subject to the satisfaction of
customary closing conditions.
Goldman Sachs & Co. LLC, Jefferies LLC and Piper Jaffray
& Co. are acting as joint book-running managers for the
offering. Canaccord Genuity LLC is acting as lead manager for the
offering.
The offering is being made only by means of a prospectus. Copies
of the final prospectus may be obtained, when available, from
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, New York 10282, Telephone: 866-471-2526,
Email: prospectus-ny@ny.email.gs.com; from Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, Telephone: 877-821-7388,
Email: Prospectus_Department@Jefferies.com; or from Piper Jaffray
& Co., Attention: Prospectus Department, 800 Nicollet Mall,
Suite 1000, Minneapolis, Minnesota, 55402, Telephone: (800)
747-3924, Email: prospectus@pjc.com.
A registration statement relating to the ADSs being sold in this
offering has been filed with the Securities and Exchange Commission
and became effective on May 22, 2019. Copies of the registration
statement can be accessed by visiting the SEC’s website
at www.sec.gov. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About Bicycle Therapeutics
Bicycle Therapeutics is a clinical-stage biopharmaceutical
company developing a novel class of medicines, referred to as
Bicycles®, for diseases that are underserved by existing
therapeutics. Bicycles are fully synthetic short peptides
constrained to form two loops that stabilize their structural
geometry.
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