Autolus announces pricing of public offering
08 February 2024
Syncona Ltd, a leading life science investor focused on creating, building and scaling global leaders in life science, notes that its portfolio company, Autolus Therapeutics plc ("Autolus") today announced the pricing of its underwritten offering in the United States of 58,333,336 American Depositary Shares ("ADSs") representing 58,333,336 ordinary shares, at a public offering price of $6.00 per ADS, for total gross proceeds of approximately $350.0 million (£277.2 million)[1]. All ADSs sold in the offering were offered by Autolus. The offering is expected to close on February 12, 2024, subject to customary closing conditions.
Following this public offering and the sale of $200 million ADSs to BioNTech SE (“BioNTech”) as part of a Strategic Collaboration, Syncona retains a stake of approximately 11.8% in Autolus (amounting to 33,527,162 ordinary shares) which was valued at £167.8 million at close of business on 07 February 2024.
Chris Hollowood, CEO of Syncona Investment Management Limited, said: “The collaboration with BioNTech and the pricing of today’s financing are fantastic achievements for Autolus. The company is now well funded to deliver obe-cel’s path in r/r adult acute lymphoblastic leukaemia and will be able to accelerate its oncology pipeline programmes and broaden the use of Autolus’ technology into autoimmune indications. A core premise of Syncona’s strategy is to build and fund companies to late-stage development. We are proud Autolus has achieved this and has also now secured the funding to deliver on the next critical leg of the journey – delivering its potentially transformational product to patients. We look forward to seeing the FDA’s decision around the approval of obe-cel in November 2024.”
This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained for free from the joint book-running managers for the offering, Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or Truist Securities, Inc., Attention: Prospectus Department, 3333 Peachtree Road NE, 9th floor, Atlanta, GA 30326, email: TruistSecurities.prospectus@Truist.com, or by telephone: 1-800-685-4786.
The announcement can be accessed on Autolus' investor website at https://www.autolus.com/investor-relations/news/ and the full text of the announcement from Autolus is contained below.
[1] FX rate taken at 07 February 2024
