ACIU - AC Immune Announces Pricing of Underwritten Offering of Common Shares | Benzinga
AC Immune Announces Pricing of Underwritten Offering of Common Shares
Lausanne, Switzerland, December 15, 2023 – AC Immune SA (NASDAQ:ACIU) (the "Company" or "AC Immune"), a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases, today announced that it has priced an underwritten offering of 14.3 million of its common shares at a price of USD 3.50 per share.
The Company expects the gross proceeds from the offering, before deducting the underwriting discounts and commissions and other offering expenses, to be approximately USD 50.1 million.
The equity offering was led by BVF Partners L.P., with participation from several existing and new institutional investors including Avidity Partners, Redmile Group, and StemPoint Capital LP.
The Company plans to use the proceeds from the offering, together with existing liquidity, primarily to strategically invest in research and clinical development of its current pipeline, its technology platforms, working capital, capital expenditures and general corporate purposes.
Delivery of the common shares of the Company against payment of the offering price is expected to be made on or about December 19, 2023, subject to satisfaction of customary closing conditions.
Jefferies and Leerink Partners are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.
The offering was made pursuant to an effective shelf registration statement of the Company previously filed with the U.S. Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus for the offering, when available, may be obtained from: Jefferies LLC Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com.
The offering, sale and purchase of the common shares of the Company are subject to market and other conditions and the restrictions set forth in the Company's articles of association and may ...