Galapagos Raises $338 Mln Gross Proceeds In 3.75 Mln Shares US Public Offering

(RTTNews) - Galapagos NV (GLPG), a Belgium-based clinical-stage biotechnology company, late Monday announced the pricing of its U.S. public offering totaling $338 million gross proceeds of 3.75 million new ordinary shares in the form of American Depositary Shares 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 April 17.

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

The company noted that each of the ADSs offered in the offering represents the right to receive one ordinary share.

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