Ascendis Pharma A/S (ASND) has announced the pricing of its underwritten public offering of 2 million American Depositary Shares (ADS) at $150.00 per share, with each ADS corresponding to one ordinary share of Ascendis. The closing of this offering is anticipated to occur on or around September 23, 2024.
The company has also granted the underwriters a 30-day option to purchase up to an additional 300,000 ADS at the public offering price, minus the underwriting commissions.
Ascendis projects net proceeds of approximately $281.3 million from this offering, excluding the underwriters' option to purchase additional ADS. This estimate accounts for the underwriting commissions and the expected offering expenses.
The funds raised will be allocated to commercial preparations, launches, and activities related to the company's products and product candidates. Additionally, the proceeds will support clinical development, regulatory approvals, working capital, and other general corporate needs.
The joint book-running managers for this offering are J.P. Morgan, Morgan Stanley, Evercore ISI, and Goldman Sachs & Co. LLC. BofA Securities, Wells Fargo Securities, and Citigroup serve as lead managers, while Oppenheimer & Co. Inc. acts as co-manager.