Summit Therapeutics Announces Closing Of Its U.S. Initial Public Offering

Published: Mar 11, 2015

OXFORD, United Kingdom--(BUSINESS WIRE)--Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy and C. difficile infection, today announced the closing of its initial public offering of 3,450,000 American Depositary Shares (“ADSs”) at a public offering price of $9.90 per ADS, before underwriting discounts and commissions. All of the ADSs in the offering were sold by Summit. In addition, Summit has granted the underwriters an option for a period of 30 days to purchase, at the public offering price less underwriting discounts and commissions, up to an additional 517,500 ADSs to cover any over-allotments. Each ADS represents five ordinary shares of Summit. Summit’s ordinary shares will continue to trade on the AIM market of the London Stock Exchange.

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