Olink Holding AB (publ) Announces Pricing of Initial Public Offering

Rhea-AI Summary

Olink Holding AB (Nasdaq: OLK) has priced its initial public offering (IPO) of 17,647,058 common shares as American Depositary Shares (ADSs) at $20.00 each, aiming to raise approximately $264.7 million before expenses. This offering includes 4,411,764 ADSs sold by existing shareholders. The ADSs will begin trading on Nasdaq on March 25, 2021, with the offering expected to close on March 29, 2021, subject to customary conditions. The underwriters also have a 30-day option for an additional 2,647,058 ADSs.

Positive

• Initial public offering priced at $20.00 per ADS, raising approximately $264.7 million for the company.
• Strong backing from reputable underwriters including Goldman Sachs and Morgan Stanley.
• ADSs commence trading on Nasdaq, indicating market confidence and visibility.

Negative

• Company will not receive proceeds from the 4,411,764 ADSs sold by selling shareholders.
• Potential dilution if the underwriters exercise their option to purchase additional ADSs.

UPPSALA, Sweden, March 25, 2021 (GLOBE NEWSWIRE) -- Olink Holding AB (publ) (Nasdaq: OLK) (“Olink” or the “Company”), today announced the pricing of its initial public offering of 17,647,058 common shares in the form of American Depositary Shares (“ADSs”), including 4,411,764 ADSs to be sold by the selling shareholders, at a price to the public of $20.00 per ADS, with each ADS representing one common share. The gross proceeds of the offering to the Company, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately $264.7 million. The ADSs are expected to begin trading on The Nasdaq Global Market on March 25, 2021. The offering is expected to close on March 29, 2021, subject to the satisfaction of customary closing conditions. The Company will not receive any proceeds from any sales of ADSs in the offering by the selling shareholders. In addition, the underwriters have been granted a 30-day option to purchase up to 2,647,058 additional ADSs from Knilo InvestCo AB, a selling shareholder.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as lead book-running managers for the offering. SVB Leerink LLC is acting as a joint book-running manager for the offering. BTIG, LLC is acting as co-manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 24, 2021. The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526 or by emailing Prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston Massachusetts 02110, telephone: 800-808-7525, ext. 6105 or by email at syndicate@svbleerink.com.

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

About Olink

Olink Holding AB (publ) (Nasdaq: OLK) is a company dedicated to accelerating proteomics together with the scientific community, across multiple disease areas to enable new discoveries and improve the lives of patients. Olink provides a platform of products and services which are deployed across major biopharmaceutical companies and leading clinical and academic institutions to deepen the understanding of real-time human biology and drive 21st century healthcare through actionable and impactful science. The Company was founded in 2016 and is well established across Europe, North America and Asia. Olink is headquartered in Uppsala, Sweden.

Contact

Investors and Media:
Olink Holding AB (publ)
Stina Thorman
stina.thorman@olink.com
+46707187354

FAQ

What is the price of the Olink initial public offering (IPO)?

The IPO of Olink is priced at $20.00 per American Depositary Share (ADS).

When will Olink's shares begin trading on Nasdaq?

Olink's shares are expected to begin trading on Nasdaq on March 25, 2021.

How much capital is Olink expecting to raise from the IPO?

Olink is expecting to raise approximately $264.7 million before expenses from the IPO.

What is the significance of the ADSs sold by selling shareholders?

The company will not receive any proceeds from the ADSs sold by selling shareholders, which may affect overall funding.

What is the potential dilution impact from the IPO?

There is potential dilution if the underwriters exercise their option to purchase an additional 2,647,058 ADSs.