A biopharmaceutical company TiGenix focused on allogeneic expanded stem cells, has raised $35.65 million gross proceeds from the sale of 2,300,000 American Depository Shares (ADSs), representing 46,000,000 ordinary shares, at a price to the public of $15.50 per ADS.
TiGenix has granted the underwriters a 30-day option to purchase up to an additional 345,000 ADSs, representing 6,900,000 ordinary shares, to cover over-allotments, if any.
The closing of the Offering is expected to occur on December 20, 2016, subject to the satisfaction of customary closing conditions.
Each of the ADSs offered represents the right to receive twenty (20) ordinary shares.
TiGenix’s ordinary shares are currently listed on Euronext Brussels. The ADSs are expected to begin trading on NASDAQ on December 15, 2016 under the symbol “TIG”.