VectivBio Announces Closing of $146.6 Million Initial Public Offering

Rhea-AI Summary

VectivBio Holding AG (Nasdaq: VECT) announced the closing of its initial public offering, successfully issuing 8,625,000 ordinary shares at $17.00 each, raising approximately $146.6 million. This offering included the underwriters' full option for an additional 1,250,000 shares. VectivBio, a clinical-stage biopharmaceutical firm, focuses on innovative treatments for severe rare conditions, notably developing the drug apraglutide for gastrointestinal diseases. Shares began trading on Nasdaq on April 9, 2021.

Positive

• Raised approximately $146.6 million from the IPO, enhancing financial position.
• Successful completion of initial public offering, indicating investor confidence.
• Development of apraglutide offers potential for significant market impact in rare diseases.

Negative

• None.

BASEL, Switzerland, April 13, 2021 (GLOBE NEWSWIRE) -- VectivBio Holding AG, (“Vectiv” or “VectivBio”) (Nasdaq: VECT), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for severe rare conditions for which there is a significant unmet medical need, today announced the closing of its initial public offering of 8,625,000 ordinary shares, which includes the full exercise of the underwriters’ option to purchase an additional 1,250,000 ordinary shares, at a public offering price of $17.00 per share. The gross proceeds from the offering were approximately $146.6 million. Vectiv’s ordinary shares began trading on the Nasdaq Global Market under the ticker symbol “VECT” on April 9, 2021. All of the ordinary shares were offered by Vectiv.

BofA Securities, SVB Leerink and Credit Suisse acted as joint book-running managers for the offering. LifeSci Capital also acted as an underwriter for the offering.

The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: may be obtained from BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by telephone at (800) 294-1322, or by email at dg.prospectus_requests@bofa.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525 ext. 6105 or by email at syndicate@svbleerink.com; or Credit Suisse Securities (USA) LLC Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, or by telephone at (800) 221-1037 or by email at usa.prospectus@credit-suisse.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on April 8, 2021. Copies of the registration statement can be accessed by visiting the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the 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 VectivBio

VectivBio (Nasdaq:VECT) is a global, clinical-stage biotechnology company focused on the discovery, development and commercialization of innovative treatments for severe rare conditions with high unmet medical need. The company is committed to pursuing product candidates with a clear mechanism of action and the potential to meaningfully transform and improve the lives of patients and their families. VectivBio’s product candidate, apraglutide, is a next-generation GLP-2 analog being developed as a differentiated therapeutic for a range of rare gastrointestinal (GI) diseases. Apraglutide is currently being evaluated in a global phase 3 clinical trial as a once-weekly treatment for short bowel syndrome with intestinal failure (SBS-IF).

Investors
Graham Morrell
graham.morrell@vectivbio.com

Media
Morgan Warners
+1 202 295 0124
morgan.warners@fgh.com

FAQ

What was the purpose of VectivBio's initial public offering?

The IPO aimed to raise funds to support the development of innovative treatments for severe rare conditions.

How many shares were offered in VectivBio's IPO?

VectivBio offered 8,625,000 ordinary shares, including an additional 1,250,000 shares from the underwriters' option.

What was the offering price per share for VectivBio's IPO?

The public offering price was $17.00 per share.

When did VectivBio's shares start trading on Nasdaq?

VectivBio's shares began trading on Nasdaq on April 9, 2021.

What are the expected uses of the funds raised from VectivBio's IPO?

The funds are intended for the development of treatments, including apraglutide for rare gastrointestinal diseases.