Mechelen, Belgium; 18 May 2015 - Galapagos NV (Euronext & NASDAQ: GLPG) announced today that the underwriters of its global offering have exercised the greenshoe option in full. The greenshoe option granted to the underwriters was for the purchase of up to an additional 749,478 new ordinary shares in the form of American Depositary Shares (“ADSs”), at a price of $42.05 per ADS, before underwriting discounts, and up to an additional 233,021 new ordinary shares in a concurrent private placement, at a price of €37.00, before underwriting discounts, representing 15% of the ADSs and ordinary shares placed in the global offering. This greenshoe exercise brings the total gross proceeds for the global offering to approximately $317 million (€279 million). Each of the ADSs offered represents the right to receive one ordinary share.
Morgan Stanley, Credit Suisse and Cowen and Company are acting as joint book-running managers, and Nomura and Bryan, Garnier & Co. are acting as co-managers, for the global offering. Morgan Stanley acted as stabilization agent on behalf of the underwriters and reported that no stabilization has taken place or will take place.
The closings of the ADS offering and the concurrent registered private placement are conditioned on each other and are expected to occur on 19 May 2015, subject to customary closing conditions.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on 13 May 2015.
The securities to be issued in the global offering are being offered only by means of a prospectus. A copy of the final prospectus can be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, Attention: Prospectus Department; Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY, 10010, United States, Attention: Prospectus Department, or by telephone at +1 (800) 221-1037, or by email at newyork.prospectus@credit-suisse.com; or Cowen and Company, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, United States, Attn.: Prospectus Department or by calling +1 (631) 274 2806.
This press release does not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Galapagos
Galapagos (Euronext & NADSAQ: GLPG) is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, with a pipeline comprising three Phase 2 programs, two Phase 1 trials, five pre-clinical studies, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, and other indications. In the field of inflammation, AbbVie and Galapagos signed a collaboration agreement for the development and commercialization of filgotinib. Filgotinib is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, currently in Phase 2B studies in RA and in Phase 2 in Crohn’s disease. Galapagos reported good activity and a favorable safety profile at 12 weeks in both the DARWIN 1 and 2 trials in RA. AbbVie and Galapagos also signed a collaboration agreement in cystic fibrosis to develop and commercialize molecules that address mutations in the CFTR gene. Potentiator GLPG1837 is currently in a Phase 1 trial, and corrector GLPG2222 is at the pre-clinical candidate stage. GLPG1205, a first-in-class inhibitor of GPR84 and fully-owned by Galapagos, is currently being tested in a Phase 2 proof-of-concept trial in ulcerative colitis patients. GLPG1690, a fully proprietary, first-in-class inhibitor of autotaxin, has shown favorable safety in a Phase 1 trial and is expected to enter Phase 2 in idiopathic pulmonary fibrosis. The Galapagos Group, including fee-for-service subsidiary Fidelta, has approximately 400 employees, operating from its Mechelen, Belgium headquarters and facilities in The Netherlands, France, and Croatia.
CONTACT
Galapagos NV
Elizabeth Goodwin, Head of Corporate Communications & IR
Tel: +31 6 2291 6240
ir@glpg.com
Help employers find you! Check out all the jobs and post your resume.
