Celyad’s $54.4 Million Global Offering

Goodwin advised Celyad on the deal

Celyad (Euronext Brussels and Paris, and NASDAQ: CYAD), a clinical-stage biopharmaceutical company focused on the development of specialized CAR-T cell based therapies, today announced the closing of a global offering of 2,070,000 ordinary shares to purchasers in the United States, Europe and certain countries outside the United States and Europe, comprised of 568,500 ordinary shares in the form of American Depositary Shares (ADSs) at a price per ADS of $26.28, and 1,501,500 ordinary shares at a price per share of € 22.29 (the “global offering”). Each ADS represents the right to receive one ordinary share. The number of ADSs and ordinary shares sold in the global offering reflects the full exercise of the underwriters’ option to purchase additional shares.

The gross proceeds to Celyad from the global offering amounted to approximately $54.4 million (approximately €46.1 million), before deducting underwriting commissions and estimated offering expenses.

Celyad’s ADSs are currently listed on the NASDAQ Global Market under the symbol “CYAD” and Celyad’s ordinary shares are currently listed on Euronext Brussels and Euronext Paris.

Wells Fargo Securities, LLC and Bryan, Garnier & Co. acted as joint bookrunning managers for the offering. Bank Degroof Petercam NV acted as a co-manager for the private placement and LifeSci Capital LLC acted as a co-manager for the global offering. Kempen & Co NV was Celyad’s advisor in connection with the offering. No stabilization activity was undertaken in connection with the global offering.

Based in Mont-Saint-Guibert, Belgium and Boston, Massachusetts, Celyad is a clinical-stage biopharmaceutical company focused on the development of specialized CAR-T cell-based therapies to treat a broad range of solid and hematologic tumors.

The Goodwin team was led by partner Michael Bison (Picture) and included associates Stephanie Richards, Andre Garron, Riley Lovendale, Kristin Eberhart and Stephen Fox.

Involved fees earner: Michael Bison – Goodwin Procter; Andre Garron – Goodwin Procter; Riley Lovendale – Goodwin Procter; Kristin Eberhart – Goodwin Procter; Stephen Fox – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Celyad SA;

Author: Ambrogio Visconti