Alligator Bioscience

Initial public offering of Alligator Bioscience AB on Nasdaq Stockholm

Alligator Bioscience AB (“Alligator” or the “Company”), a leading biotech company developing innovative immune activating antibody drugs for tumor-directed immunotherapy, hereby announces the outcome relating to the offering to acquire shares in the Company (the “Offering”) and listing on Nasdaq Stockholm. The Offering attracted strong interest among Swedish and international investors and the Offering was oversubscribed several times.
Alligator is a research-based biotechnology company that develops innovative immune activating antibody drugs for tumor-directed immunotherapy. The Company is headquartered in Lund, Sweden, and had 35 employees per September 30, 2016. The Company is primarily active in the early stages of drug development, from the idea stage to clinical phase IIa studies, and Alligator’s product portolio primarily consist of the product candidates ADC-1013, ATOR-1015 and ATOR-1016. In August 2015, ADC-1013 was out-licensed to Janssen Biotech Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for further development and commercialization. The out-licensing deal is worth up to USD 695 million in up-front and milestones, and the Company also has high single-digit to low double-digit royalties on future sales of ADC-1013.

The Offering in brief

  • As previously announced, the price per share in the Offering was SEK 32.50, corresponding to a value of the total number of shares in the Company upon completion of the Offering of SEK 2,275 million 
  • The Offering consisted of 12,923,077 shares, corresponding to approximately 18.5 percent of the total number of shares in the Company upon completion of the Offering, of which 10,769,231 were new shares offered by the Company and 2,153,846 are existing shares offered by Sunstone Life Science Ventures Fund II K/S and Duba AB (together the “Selling Shareholders”)
  • In order to cover potential over-allotment in relation to the Offering, the Selling Shareholders have, upon the Global Co-ordinator’s (see definition below) request, undertaken to offer up to 1,938,462 additional existing shares (the “Over-Allotment Option”), corresponding to up to 15 percent of the number of shares in the Offering and approximately 2.8 percent of the total number of shares in the Company upon completion of the Offering
  • Assuming the Over-Allotment Option is exercised in full, the value of the Offering will amount to approximately SEK 483 million and correspond to approximately 21.2 percent of the total number of shares in the Company upon completion of the Offering
  • The total number of shares in Alligator upon completion of the Offering will amount to 70,013,615 shares
  • Immediately following the completion of the Offering, and assuming that the Over-Allotment Option is exercised in full, Alligator’s largest shareholders will include Banque Internationale à Luxembourg SA (18.7 percent of the total number of shares in the Company upon completion of the Offering), Johnson & Johnson Innovation-JJDC, Inc. (”JJDC”) (8.2 percent), Sunstone Life Science Ventures Fund II K/S (7.7 percent) and Duba AB (6.6 percent). Catella Fondförvaltning, Investment AB Öresund and Norron Asset Management (together the ”Cornerstone Investors”) will each own 2.2 percent of the total number of shares in the Company upon completion of the Offering
  • Trading in Alligator shares on Nasdaq Stockholm commences today, November 23, 2016 under the ticker “ATORX” 
  • Trading is conditional until settlement, which is expected to take place on November 25, 2016

Carnegie acted as sole global co-ordinator and joint bookrunner in the transaction.

© Copyright Carnegie Investment Bank AB 2017. Alla rättigheter är reserverade.