VECT - VectivBio launches public offering of shares ~$20M private placement transaction

Clinical-stage biopharmaceutical company VectivBio Holding launched a follow-on public offering of ordinary shares and agreed to sell ~$20M worth ordinary shares to Forbion Growth Opportunities Fund II Coöperatief U.A. in a private placement transaction. For the public offering, size not disclosed, SVB Securities and Piper Sandler are joint book-running managers, while LifeSci Capital is a co-manager. VectivBio expects to grant underwriters a 30-day option to purchase up to an additional 15% of the shares to be sold in the offering on the same terms and conditions. The offering is subject to market and other conditions. Separately, VECT entered into an agreement with Forbion, represented by Forbion Growth II Management B.V., to sell 3,478,260 shares at $5.75 per share. The private placement is expected to close concurrently with the public offering. The net proceeds from both the transactions are expected to be used to fund clinical development and pre-commercialization activities and for

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VectivBio launches public offering of shares, ~$20M private placement transaction