Nightstar announces pricing of public offering
Syncona Limited
Nightstar announces pricing of public offering
28 September 2018
Syncona Ltd ("Syncona"), a leading healthcare company focused on investing in and building global leaders in life science, notes that its portfolio company Nightstar Therapeutics plc ("Nightstar") has announced the pricing of its previously announced underwritten public offering of 4,000,000 American Depositary Shares ("ADSs") representing 4,000,000 ordinary shares at a public offering price of $18.00 per ADS. All ADSs to be sold in the offering will be offered by Nightstar.
Syncona has agreed to invest $18 million (£13.7 million) in the offering. Following the offering, Syncona retains a stake of 39.0 per cent in Nightstar (amounting to 13,203,922 ordinary shares/ADSs), which was valued at £187.6m at close of business on 27 September 2018.[1]
Chris Hollowood, Chief Investment Officer of Syncona and Chairman of Nightstar said: "Our strategy is to build global leaders by supporting our companies strongly over the long-term. We are demonstrating this approach today with our investment in Nightstar, a company which we believe has the potential to become a global leader in gene therapies for inherited blinding conditions. We look forward to continuing to support the company as it seeks to bring its pipeline of gene therapies to patients."
This press release 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 offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 547-6340, e-mail: Prospectus_Department@Jefferies.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, e-mail: barclaysprospectus@broadridge.com; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275, email: olprospectusrequest@ubs.com.
A registration statement on Form F-1 (File No. 333-227520) relating to the ADSs being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on September 27, 2018.
[ENDS]
Enquiries
Syncona Ltd
Annabel Clay
Tel: +44 (0) 20 7611 2010
Tulchan Communications
Martin Robinson
Lisa Jarrett-Kerr
Tel: +44 (0) 207 353 4200
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 investing in and building 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 Nightstar
Nightstar is a leading clinical-stage gene therapy company focused on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases that would otherwise progress to blindness.
[1] As at exchange rates on 27 September 2018
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