Goodwin Procter LLP and JunHe advised Goldman Sachs & Co. LLC and the other underwriters on the deal, while Wilson Sonsini Goodrich & Rosati and Maples represented Ambrx Biopharma.
Ambrx, a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop Engineered Precision Biologics (EPBs), announced the pricing of its initial public offering of 7,000,000 American depositary shares (ADSs), each representing seven ordinary shares, at a public offering price of $18.00 per ADS. The total gross proceeds to Ambrx from the offering are expected to be $126.0 million before deducting underwriting discounts and commissions and estimated offering expenses. In addition, Ambrx has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 ADSs at the initial public offering price, less underwriting discounts and commissions. All of the ADSs are being offered by Ambrx. The shares are expected to begin trading on the New York Stock Exchange on June 18, 2021 under the ticker symbol “AMAM”. The offering is expected to close on June 22, 2021, subject to the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, BofA Securities and Cowen are acting as joint book-running managers for the offering.
The Goodwin team was led by Robert Puopolo (Picture), Seo Salimi, Will Magioncalda, Thomas Schaad, and Peter Rodas (U.S. Corporate) and Wendy Pan and Bosco Yiu (Hong Kong Corporate), and included Alexander Varond and Sarah Wicks (FDA), Olivia Uitto (IP); Roger Cohen, Delphine O’Rourke, and Nik Sethi (Healthcare); Jennifer Fay and Caroline Galiatsos (Employment); Daniel Karelitz and Joshua Lake (Tax); Ettore Santucci (Opinions); and Christopher Haley (Science Advisor); with invaluable assistance from Julie Tibbets and Simone Otenaike.
The Wilson Sonsini team that advised Ambrx on patent matters related to the transaction was led by Uale Taotafa and included Feng Tian and Mike Hostetler.
The JunHe team was led by partner Mr. Chenliang Li.
The Maples team included partner Richard Spooner and associate Vivian Lee. The Group’s Fund Services business acted as the Cayman Islands Share Registrar, and the team comprised Eastern Fong, Regional Head of the Group’s fund services business in Asia and Senior Vice President Christy Poon.
Involved fees earner: Roger Cohen – Goodwin Procter; Jennifer Fay – Goodwin Procter; Caroline Galiatsos – Goodwin Procter; Christopher Haley – Goodwin Procter; Daniel Karelitz – Goodwin Procter; William Magioncalda – Goodwin Procter; Delphine O’Rourke – Goodwin Procter; Simone Otenaike – Goodwin Procter; Wenseng Pan – Goodwin Procter; Robert Puopolo – Goodwin Procter; Peter Rodas – Goodwin Procter; Seo Salimi – Goodwin Procter; Ettore Santucci – Goodwin Procter; Thomas Schaak – Goodwin Procter; Nikhil Sethi – Goodwin Procter; Julie Tibbets – Goodwin Procter; Olivia Uitto – Goodwin Procter; Alexander Varond – Goodwin Procter; Sarah Wicks – Goodwin Procter; Bosco Yiu – Goodwin Procter; Chenliang Li – JunHe; Eastern Fong – Maples and Calder; Vivian Lee – Maples and Calder; Christy Poon – Maples and Calder; Richard Spooner – Maples and Calder; Michael Hostetler – Wilson Sonsini Goodrich & Rosati; Uale Taotafa – Wilson Sonsini Goodrich & Rosati; Feng Tian – Wilson Sonsini Goodrich & Rosati;