Paris, June 19th, 2015 – Bryan, Garnier & Co, the pan-European investment bank for growth companies, announces the successful $100 million Nasdaq IPO of Celyad, the clinical-stage biopharmaceutical company focused on the identification and development of specialized cell based therapies. Bryan, Garnier & Co acted as co-manager alongside UBS, Piper Jaffray, Petercam, LifeSci Capital, and Lake Street Capital Markets.
Celyad SA (formerly known
as Cardio3 BioSciences, Euronext Brussels and Paris: CYAD, Nasdaq: CYAD),
announced the pricing of its global offering totaling $100.1 million gross
proceeds of 1,460,000 new ordinary shares, consisting of 1,168,000 American Depositary
Shares (“ADSs”) at $68.56 per ADS, and 292,000 ordinary shares at a price of
EUR 60.25 per share, both before underwriting discounts. These shares were
placed in a concurrent public offering in the United States and private
placement in Europe (together the “global offering”). The price per ADS was
based on EUR 60.25 per ordinary share at an exchange rate of $ 1.1380 per Euro.
In addition, Celyad has
granted the underwriters an option to purchase up to an additional 175,200 new
ordinary shares in the form of ADSs and an option to purchase up to an
additional 43,800 new ordinary shares, representing 15% of the ordinary shares
and ADSs placed in the global offering. This option can be exercised during the
30 day period commencing 18 June 2015.
The closings of the ADS
offering and the concurrent private placement are conditioned on each other and
are expected to occur on 24 June 2015, subject to customary closing conditions.
Each of the ADSs offered
represents the right to receive one ordinary share.
Hervé Ronin, Partner at Bryan,
Garnier & Co, emphasizes: “Celyad exemplifies the fast growing healthcare
companies Bryan Garnier & Co aims to accompany in their various corporate
finance needs. This transaction illustrates again Bryan, Garnier & Co’s
unique ability to support European healthcare growth companies, in a variety of
situations, on both European and US markets.”
Cédric Moreau, Director at
Bryan, Garnier & Co, adds: “This transaction is a great achievement and it
confirms our expertise in cross-border deals. We are very proud to have actively
contributed to this great success of Celyad and its management. This achievement
represents a cornerstone for Celyad allowing the company to become a leader in
innovative cell therapies.”
With more than €1b of capital raised in the past 12 months, Bryan Garnier & Co tops the European fundraising league table in healthcare:
- Bryan, Garnier & Co has been involved in most of the recent IPOs of
European healthcare companies on Nasdaq. Amongst the six largest Nasdaq IPOs of
European companies, Bryan Garnier co-led or co-managed : the 100m$ Nasdaq IPO
of Celyad (Belgium, May 2015), the $317m Nasdaq IPO of Galapagos (Belgium,
April 2015), the $133m IPO of DBV Technologies (France, October 2014), and the
$86m IPO and $97m follow-on of LDR Holding (US/France, May 2014).
- In H1 2015, Bryan Garnier was also involved in the £20m follow-on of
Advanced Oncotherapy and the £106m IPO of Quantum Pharma on the London Stock
Exchange, a €27m PIPE for Nicox, a €32 PIPE for Cardio3, as well as the €37m
IPO of Bone Therapeutics on Euronext.
- In 2014, Bryan Garnier acted as sole placement agent for the €100m growth
financing of Merieux Nutrisciences, the largest European healthcare private
placement of the year.
For more information, please contact:
Partner – Healthcare
email@example.com | + 33 1 56 68 75 22
Director – Healthcare
firstname.lastname@example.org | + 33 1 56 68 75 65
Director – Equity Capital Markets
email@example.com | + 33 1 56 68 75 30
Jean de Pracomtal
Analyst - Healthcare
firstname.lastname@example.org | + 33 1 56 68 75 38
About Celyad (www.celyad.com)
Founded in 2007, and based in Belgium, Celyad is a leader in
engineered cell therapy treatments with clinical programs initially targeting
indications in cardiology and oncology. Celyad is developing its lead
cardiovascular disease product candidate, C-Cure®, for the treatment of
ischemic heart failure, and has completed enrolment of a Phase III trial in
Europe and Israel. In addition, the Company is developing a novel portfolio of
CAR T-cell therapies that utilize human Natural Killer cell receptors for the
treatment of numerous blood and solid cancers. Its lead oncology product
candidate, NKG2D CAR T-cell, entered a Phase I clinical trial in April 2015.
About Bryan, Garnier & Co (www.bryangarnier.com)
Bryan, Garnier & Co is an international growth-focused independent investment bank
with operations in London, Paris, Geneva, New York and New Delhi. Since 1996,
Bryan, Garnier & Co has dealt with over 300 corporate clients. The firm
employs 120 people and provides equity research, sales & trading, private
and public capital raising and M&A services to growth companies and their
investors, with a focus on the TMT, Healthcare, Renewable Energies &
Environment, Specialty Retail and Business Services industry sectors. In 2013,
Bryan, Garnier & Co received the Most Productive European Broker Award by
Financial Times / Starmine.
Bryan, Garnier & Co is a fully registered broker dealer authorized by the FCA in Europe and by the FINRA in the USA, and is a member of the London Stock Exchange, a member of NYSE Euronext and a listing sponsor on Alternext.