aibioMolecular Partners prices $20 million offering of 3,642,988 ADSs at $5.49
Tickers MOLN
The Swiss company plans to use the money for its radiopharmaceutical pipeline and working capital. Leerink Partners and TD Cowen are joint bookrunners.
Key facts
- Company
- Molecular Partners AG (SIX: MOLN)
- News type
- Financings
- Primary source
- Molecular Partners AG 6-K (2024-10-28)
Molecular Partners AG announced on October 25, 2024 the pricing of an underwritten offering in the United States of 3,642,988 American Depositary Shares (ADSs) at an offering price of $5.49 per ADS. Each ADS represents one ordinary share. Total gross proceeds are approximately $20.0 million. Molecular Partners is selling all of the ADSs.
The offering included participation from a new investor, HBM Healthcare Investments Ltd, and multiple existing investors. Leerink Partners and TD Cowen are acting as joint bookrunning managers, LifeSci Capital is lead manager, and Zürcher Kantonalbank serves as settlement agent. The offering was expected to close on October 29, 2024, subject to customary closing conditions.
The company intends to use the net proceeds, together with existing cash and cash equivalents, to develop and expand its radiopharmaceutical pipeline and platform (Radio-DARPin Therapeutics) and for working capital and other general corporate purposes.
The securities are offered under an effective Form F-3 shelf registration statement filed with the SEC. The SIX Swiss Exchange pre-approved, subject to customary conditions, the listing of the new ordinary shares underlying the ADSs. The company's shares trade on both SIX and Nasdaq under the symbol "MOLN." The announcement was made as an ad hoc announcement under Art. 53 of the SIX listing rules.