Autolus announces pricing of public offering
Syncona Limited
Autolus announces pricing of public offering
11 April 2019
Syncona Ltd, a leading healthcare company focused on founding, building and funding global leaders in life science, notes that its portfolio company, Autolus Therapeutics plc ("Autolus") today announced the pricing of its previously announced underwritten public offering in the United States of 4,200,000 American Depositary Shares ("ADSs") representing 4,200,000 ordinary shares, at a public offering price of $24 per ADS, for total gross proceeds of approximately $100.8 million (£77.0million[1]). All ADSs sold in the offering were offered by Autolus.
Syncona has agreed to invest $24 million (£18.3 million1) in the offering. Following the offering, Syncona retains a stake of 30.4% in Autolus (amounting to 14,592,098 ordinary shares) which was valued at £270.9 million at close of business on 10 April 2019.
Martin Murphy, Chief Executive Officer of Syncona Investment Management Limited and Director of Autolus, said, "Syncona's approach is to support our companies over the long-term as they seek to deliver their products to patients. We are demonstrating this today with our further investment in Autolus which is focused on developing next generation programmed T cell therapies for the treatment of cancer. We look forward to continuing to support the company towards this goal."
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 prospectus can be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at +1 866 471 2526 or by email at prospectus-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 +1 877 821 7388 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.
A registration statement on Form F-1 (File No. 333-230767) relating to the ADSs being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on 10 April 2019.
[ENDS]
Enquiries
Syncona Ltd
Annabel Clay / Siobhan Weaver
Tel: +44 (0) 20 3981 7940
FTI Consulting
Brett Pollard / Natalie Garland-Collins
Tel: +44 (0) 20 3727 1000
Forward-looking statements - this announcement contains certain forward-looking statements with respect to the portfolio of investments of Syncona Ltd. 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 Syncona
Syncona is a leading FTSE250 healthcare company focused on founding, building and funding global leaders in life science. Our vision is to deliver transformational treatments to patients in truly innovative areas of healthcare while generating superior returns for shareholders.
We seek to partner with the best, brightest and most ambitious minds in science to build globally competitive businesses.
We take a long-term view, underpinned by a deep pool of capital, and are established leaders in gene and cell therapy. We focus on delivering dramatic efficacy for patients in areas of high unmet need.
About Autolus
Autolus is a biopharmaceutical company developing next-generation programmed T cell therapies for the treatment of cancer.
[1] At exchange rate on the 10 April 2019
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