argenx raises $100 million with NASDAQ IPO
argenx has announced the pricing of its initial public offering in the United States with anticipated gross proceeds totalling approximately $100 million from the sale of 5,865,000 American Depository Shares ("ADSs"), at a price to the public of $17.00 per ADS.
All of the ADSs are being offered by argenx and each of the ADSs offered represents the right to receive one ordinary share.
argenx had earlier increased the Offering from 3.6 million ADSs to 5.0 million ADSs and has finally further increased the Offering to approximately 5.9 million ADSs.
argenx's ordinary shares are listed on the regulated market of Euronext Brussels. The ADSs are expected to begin trading on the NASDAQ Global Select Market on May 18, 2017 under the symbol "ARGX". The Offering was closed on May 18, 2017, subject to customary closing conditions. argenx has granted the underwriters a 30-day option to purchase up to an additional 879,750 ADSs, representing 15% of the ADSs sold in the Offering, to cover over allotments, if any. In the meantime, all options were excercised.