Update: WPCT holding Autolus files for IPO
Woodford Patient Capital Trust plc
Update on Autolus proposed initial public offering in the United States
LONDON, 8 June 2018
Woodford Patient Capital Trust plc (WPCT) notes that its portfolio company, Autolus Therapeutics Limited (to be reorganised as Autolus Therapeutics plc) ("Autolus"), has today filed an amended registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering in the United States of its American Depositary Shares ("ADSs"), each ADS representing one ordinary share.
The registration statement discloses an indicative pricing range for the proposed offering of U.S.$15.00 - U.S.$17.00 per ADS. This would represent an increase in value of WPCT's current shareholding in Autolus (compared to the 30 April 2018 sterling holding value) of £25.9 - £35.1 million (3.1p - 4.2p per WPCT share)*. The proposed maximum aggregate offering amount specified in the filing is U.S. $125 million, which assumes that the offering price is at the midpoint of the indicative pricing range and does not include the underwriters' option to purchase additional ADSs.
The registration statement can be accessed through the SEC's EDGAR database.
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.
The securities referred to in this announcement are to be offered only by means of a prospectus. When available, copies of the preliminary prospectus can be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at +1 866 471 2526 or by email at prospectusgroup-ny@ny.email.gs.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at + 1 877 547 6340, or by email at Prospectus_Department@Jefferies.com. For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in each relevant EU member state) and will not have been reviewed by any competent authority in any EU member state.
* based upon the GBPUSD FX rate on 7 June 2018
For further information, please contact:
Four Broadgate
Roland Cross / Jonathan Atkins/
020 3697 4200
woodfordfourbroadgate.com
Notes to editors:
Forward-looking statements - this announcement contains certain forward-looking statements with respect to the portfolio of investments of WPCT. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this announcement should be construed as a profit forecast.
About Autolus
Autolus is a biopharmaceutical company developing next-generation programmed T cell therapies for the treatment of cancer.
About Woodford Investment Management:
Woodford Investment Management Limited is an asset management company built on a founding philosophy of transparency and simplicity. Launched in May 2014, the company has more than £13bn assets under management and advice.
Woodford Investment Management Ltd
9400 Garsington Road Oxford OX4 2HN
+44 (0)1865 809 000
info@woodfordfunds.com
Authorised and regulated by the Financial Conduct Authority
Registered in England and Wales. Number 10118169
ENDS
LEI: 2138008X94M7OVE73I77
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