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News

Bicycle Therapeutics Reports $555M Private Placement Equity Financing; Says Financing Includes Participation From New And Existing Investors

Author: Benzinga Newsdesk | May 23, 2024 07:16am

The company has entered into a securities purchase agreement with certain existing and new accredited investors to issue and sell an aggregate of 25.933 million American Depositary Shares, each representing one ordinary share, and in lieu of ADSs to investors that so choose, non-voting ordinary shares, each at a price of $21.42 per share, through a private investment in public equity ("PIPE") financing.

Bicycle anticipates the gross proceeds from the PIPE to be approximately $555 million. The financing is expected to close on May 28, 2024, subject to customary closing conditions.

Posted In: BCYC