Abivax closes $920 million public offering

French inflammatory diseases specialist Abivax (Euronext: ABVX) yesterday announced the closing of its previously announced underwritten public offering of 7,360,000 American Depositary Shares (ADSs), each representing one ordinary share, 0.01 euros nominal value per share, of the company, in the USA, which includes the full exercise of the underwriters’ option to purchase additional ADSs. Abivax shares closed down 4.5% at 128.90 euros.

The aggregate gross proceeds, after exercise of the underwriters’ option, amounted to approximately $920.0 million, equivalent to approximately 807.4 million euros ($920 million) before deduction of underwriting commissions and estimated expenses payable by the Company, and the estimated net proceeds, after deducting underwriting commissions and estimated offering expenses payable by the company, will be around $874.1 million, equivalent to about 767.1 million euros. All of the ADSs in the offering were offered by Abivax.