CENTOGENE Announces Proposed Primary and Secondary Public Offering of Common Shares

Rhea-AI Summary

Centogene N.V. (Nasdaq: CNTG) has initiated an underwritten public offering of 3.5 million common shares, consisting of 2 million shares from the company and 1.5 million from selling shareholders, with an additional 525,000 shares available for underwriters. Proceeds from the offering will fund research and development for orphan drug initiatives, working capital, and potential investments in complementary businesses. The offering is dependent on market conditions and a registration statement is pending effectiveness.

Positive

• Intended use of funds for research and development in orphan drug initiatives.
• Potential to acquire or invest in complementary businesses, assets, or technologies.

Negative

• Offering may lead to shareholder dilution.
• Market uncertainty surrounding the completion and terms of the offering.

CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, July 07, 2020 (GLOBE NEWSWIRE) -- Centogene N.V. (Nasdaq: CNTG), a commercial-stage company focused on rare diseases that transforms real-world clinical and genetic data into actionable information for patients, physicians, and pharmaceutical companies, announced today that it and certain selling shareholders have commenced an underwritten public offering of 3,500,000 common shares of the Company, consisting of 2,000,000 common shares offered by the Company and 1,500,000 common shares offered by the selling shareholders. In addition, the selling shareholders expect to grant the underwriters a 30-day option to purchase up to an additional 525,000 common shares at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Credit Suisse and SVB Leerink are acting as joint book-running managers for the proposed offering, with Baird, BTIG and Kempen & Co acting as co-managers.

Centogene intends to use the net proceeds of the offering for research and development to support orphan drug development with its knowledge-driven information platform, as well as for working capital and other general corporate purposes. A portion of the net proceeds may also be used to acquire or invest in complementary businesses, assets or technologies.

The offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained, when available, for free by visiting EDGAR on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov. Alternatively, copies of the preliminary prospectus, when available, may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6218 or by email at syndicate@svbleerink.com.

A registration statement relating to the offering has been filed with the SEC but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CENTOGENE

CENTOGENE engages in diagnosis and research around rare diseases transforming real-world clinical and genetic data into actionable information for patients, physicians, and pharmaceutical companies. Our goal is to bring rationality to treatment decisions and to accelerate the development of new orphan drugs by using our extensive rare disease knowledge, including epidemiological and clinical data, as well as innovative biomarkers. CENTOGENE has developed a global proprietary rare disease platform based on our real-world data repository with approximately 3.0 billion weighted data points from over 530,000 patients representing over 120 different countries as of March 31, 2020.

The Company’s platform includes epidemiologic, phenotypic, and genetic data that reflects a global population, and also a biobank of these patients’ blood samples. CENTOGENE believes this represents the only platform that comprehensively analyzes multi-level data to improve the understanding of rare hereditary diseases, which can aid in the identification of patients and improve our pharmaceutical partners’ ability to bring orphan drugs to the market. As of March 31, 2020, the Company collaborated with 39 pharmaceutical partners covering over 45 different rare diseases.

Media Contact:

CENTOGENE
Sun Kim
Chief Strategy and Investor Relations Officer


FTI Consulting
Bridie Lawlor 
+1.917.929.5684

FAQ

What is the purpose of Centogene's public offering on July 07, 2020?

Centogene intends to use the proceeds from the offering for research and development of orphan drugs, working capital, and potential acquisitions.

How many shares are being offered in Centogene's public offering?

Centogene is offering 3.5 million common shares, including 2 million from the company and 1.5 million from selling shareholders.

What are the potential risks associated with the Centogene offering?

Risks include potential shareholder dilution and market uncertainties regarding the offering's completion and terms.

Who are the underwriters for Centogene's public offering?

Credit Suisse and SVB Leerink are acting as joint book-running managers for the offering.

What additional shares may be purchased in Centogene's offering?

Underwriters may purchase an additional 525,000 common shares at the public offering price within 30 days.