Galapagos raises $338 million gross proceeds in a US public offering

April 18, 2017 News BioVox

Galapagos announced today the pricing of its U.S. public offering totaling $338 million gross proceeds of 3,750,000 new ordinary shares in the form of American Depositary Shares (“ADSs”) at $90 per ADS, before underwriting discounts.

In addition, Galapagos has granted the underwriter an option to purchase up to an additional 562,500 ADSs, representing 15% of the ADSs placed in the offering. This option can be exercised during the 30 day period commencing 17 April 2017.

The closing of the offering is expected to occur on 21 April 2017, subject to customary closing conditions.

Each of the ADSs offered in the offering represents the right to receive one ordinary share.

Galapagos’ ADSs are currently listed on the NASDAQ Global Select Market under the symbol “GLPG” and Galapagos’ ordinary shares are currently listed on Euronext Amsterdam and Euronext Brussels.

Morgan Stanley is acting as sole book-running manager for the proposed offering.

The securities are being offered pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on 17 April 2017. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website. When available, copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, Attention: Prospectus Department.

This press release does not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


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