Abcam’s $156.5 Million Shares Offering

Latham & Watkins LLP represented Abcam, while Davis Polk advised the representatives of the several underwriters in the offering.

Abcam plc (Abcam), a global leader in the supply of life science research tools, has announced the pricing of its offering of 8,945,218 American Depositary Shares (ADSs), representing an aggregate of 8,945,218 ordinary shares, at a price of US$17.50 per ADS, for aggregate proceeds of approximately US$156.5 million, before deducting underwriting discounts and commissions. Each ADS offered represents one ordinary share of Abcam. In addition, Abcam has granted the underwriters a 30-day option to purchase up to an additional 1,341,782 ADSs on the same terms and conditions. Abcam’s ordinary shares are admitted to trading on the AIM market of the London Stock Exchange under the symbol “ABC.” Abcam’s ADSs are expected to begin trading on Nasdaq on October 22, 2020 under the ticker symbol “ABCM.” The closing of the offering is expected to occur on October 26, 2020, subject to customary closing conditions.

Morgan Stanley & Co. LLC, BofA Securities, Inc., SVB Leerink LLC, Lazard Frères & Co. LLC, and William Blair & Company, L.L.C. acted as underwriters for the offering.

Latham & Watkins LLP represented Abcam in the offering with a capital markets team led by New York partners Ian Schuman (Picture) and Nathan Ajiashvili and London partner Robbie McLaren, with London associates Jennifer Gascoyne, Anna Ngo, Sarah Youssefi, Jackie Yonover, and Frederick Gardner.

The Davis Polk corporate team advising the underwriters included partner Marcel Fausten and associates Carrie Guo and Dylan H. Lojac. Partner Simon Witty and associate Aya Aboulatta provided English law advice. The intellectual property and technology transactions team included partner David R. Bauer and associates Yifu Chen. Partners Mario J. Verdolini and Jonathan Cooklin, and counsel Dominic Foulkes provided U.S. and English tax advice.

Involved fees earner: Aya Aboulatta – Davis Polk & Wardwell; David Bauer – Davis Polk & Wardwell; Yifu Chen – Davis Polk & Wardwell; Jonathan Cooklin – Davis Polk & Wardwell; Marcel Fausten – Davis Polk & Wardwell; Dominic Foulkes – Davis Polk & Wardwell; Carrie Guo – Davis Polk & Wardwell; Dylan Lojac – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell; Simon Witty – Davis Polk & Wardwell; Nathan Ajiashvili – Latham & Watkins; Jennifer Gascoyne – Latham & Watkins; Frederick Arthur Langdon Gardner – Latham & Watkins; Robbie McLaren – Latham & Watkins; Anna Ngo – Latham & Watkins; Ian Schuman – Latham & Watkins; Jacqueline Lydia Yonover – Latham & Watkins; Sarah Youssefi – Latham & Watkins;

Law Firms: Davis Polk & Wardwell; Latham & Watkins;

Clients: Abcam PLC; Bank of America Securities; Lazard Frères & Co; Morgan Stanley; SVB Leerink LLC; William Blair & Company, L.L.C.;

Author: Ambrogio Visconti