Nanobiotix Secures €85M in Oversubscribed Global Offering, Priced at Discount
NBTX has more than doubled off its 52-week low of $3.64.
Summary
Nanobiotix has priced its global follow-on offering, raising approximately €85 million ($98.6 million) through ADSs, ordinary shares, and pre-funded warrants. This follows yesterday's 6-K announcing the launch of the offering and today's 6-K about halting trading to prepare for pricing. The offering was oversubscribed, indicating strong investor demand, but was priced at a 14.92% discount to the volume-weighted average price of its ordinary shares. This capital raise provides significant funding for the late-clinical stage biotechnology company, representing about 4.7% of its market capitalization.
At the time of this announcement, NBTX was trading at $40.25 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $3.64 to $57.14. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.