Autolus Announces Closing of Public Offering and Full Exercise of Option to Purchase Additional ADSs

Rhea-AI Summary

Autolus Therapeutics plc (Nasdaq: AUTL) has successfully closed a public offering of 16,428,572 ADSs at a price of $7.00 each, raising approximately $115 million in gross proceeds. The offering included the full exercise of an option by underwriters for an additional 2,142,857 ADSs. J.P. Morgan and Wells Fargo Securities were the joint bookrunners for this transaction. The funds will support the development of Autolus' next-generation T cell therapies aimed at treating cancer, leveraging advanced programming technologies to improve efficacy against malignancies.

Positive

• Gross proceeds of approximately $115 million from the offering.
• Funds will advance development of next-generation T cell therapies for cancer treatment.

Negative

• Potential dilution of existing shares due to the new offering.

LONDON, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Autolus Therapeutics plc (Nasdaq: AUTL), a clinical-stage biopharmaceutical company developing next-generation programmed T cell therapies, today announced the closing of its previously announced underwritten public offering in the United States of 16,428,572 American Depositary Shares (“ADSs”) representing 16,428,572 ordinary shares, including the exercise in full by the underwriters of their option to purchase an additional 2,142,857 ADSs, at a public offering price of $7.00 per ADS. The gross proceeds to Autolus from the offering, before underwriting discounts and commissions and other offering expenses payable by Autolus, were approximately $115.0 million.

J.P. Morgan and Wells Fargo Securities acted as joint bookrunners for the offering. Kempen & Co, Mizuho Securities and Needham & Company acted as co-managers.

The securities described above were offered by Autolus pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (“SEC”). A final prospectus supplement to the accompanying prospectus describing the terms of the offering was filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained for free from either of the joint book-running managers for the offering, J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at +1 866 803 9204 or by email at prospectus-eq_fi@jpmchase.com; or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or email a request to cmclientsupport@wellsfargo.com. For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of the Regulation (EU) 2017/1129 and has not been reviewed by any competent authority in any member state in the European Economic Area or the United Kingdom.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Autolus

Autolus is a clinical-stage biopharmaceutical company developing next-generation, programmed T cell therapies for the treatment of cancer. Using a broad suite of proprietary and modular T cell programming technologies, the company is engineering precisely targeted, controlled and highly active T cell therapies that are designed to better recognize cancer cells, break down their defense mechanisms and eliminate these cells. Autolus has a pipeline of product candidates in development for the treatment of hematological malignancies and solid tumors.

Contacts:

Lucinda Crabtree, Ph.D.
Vice President, Investor Relations and Corporate Communications
+44 (0)7587 372 619
l.crabtree@autolus.com

Julia Wilson
+44 (0)7818 430877
j.wilson@autolus.com

Susan A Noonan
S.A. Noonan Communications, LLC
+1 212 966 3650
susan@sanoonan.com

FAQ

What is the purpose of Autolus Therapeutics' recent public offering?

The proceeds from Autolus Therapeutics' public offering will support the development of their next-generation T cell therapies for cancer treatment.

How much money did Autolus raise from its public offering?

Autolus raised approximately $115 million in gross proceeds from its recent public offering.

What is the stock symbol for Autolus Therapeutics?

The stock symbol for Autolus Therapeutics is AUTL.

Who were the underwriters for Autolus' public offering?

J.P. Morgan and Wells Fargo Securities acted as joint bookrunners for the offering.

What was the offering price for Autolus ADSs?

The offering price for Autolus American Depositary Shares (ADSs) was $7.00 each.