Ascendis Pharma logo   

US Public Offering

USD 600 million
Co-Manager
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Ascendis Pharma

Co-Manager

Kempen & Co acted as Co-Manager in Ascendis Pharma’s largest capital increase to date of USD 600 million

Transaction highlights

  • Accelerated Bookbuild Offering on Nasdaq raising USD 600m by placing a total of 4,225,352 ADSs at a price of USD 142.00 per ADS, excluding the exercise of the over-allotment option
  • The transaction was executed on the back of strong momentum as Ascendis Pharma achieved a number of major clinical and regulatory milestones over the past several months. The capital raise was upsized from its originally envisaged amount of USD 500 million due to strong demand and was priced tightly at a discount of 3.8% to the last ADS closing price
  • Use of proceeds from the offering will be utilised to support the clinical development, regulatory approval, and commercial preparations for TransCon hGH, fund clinical development of other endocrinology rare disease programs, to identify new product candidates, including in the therapeutic area of oncology, and for working capital and general corporate purposes
  • Ascendis Pharma is one of the largest pre-commercial European biopharma companies with a market capitalisation of USD 7.1 billion prior to this offering. This capital raise marks the second largest ECM transaction for such European companies in history on any exchange
  • This transaction marks Kempen & Co’s second major deal of a Danish life sciences company following the 2019 US IPO of Genmab. Year to date, Kempen & Co has been involved in raising c. 2.0 billion of growth financing for innovation driven European Life Sciences & Healthcare companies

Company description

Ascendis Pharma is applying its innovative platform technology to build a leading, fully integrated biopharma company focused on making a meaningful difference in patients’ lives. Guided by its core values of patients, science and passion, the company utilizes its TransCon™ technologies to create new and potentially best-in-class therapies. Ascendis Pharma currently has a pipeline of three independent endocrinology rare disease product candidates in clinical development and is advancing oncology as its second therapeutic area of focus. The company continues to expand into additional therapeutic areas to address unmet patient needs.

Background Kempen & Co Life Sciences & Healthcare

Over the past year, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

  • Financial advisor in Immatics’ business combination with Arya Sciences Acquisition Corp., thereby becoming a Nasdaq listed company and securing USD 253 million
  • Joint Global Coordinator and Joint Bookrunner in the €61.8 million Initial Public Offering by Hyloris Pharmaceuticals
  • Joint Bookrunner in the €20.0 million Capital Increase by Oryzon Genomics
  • Joint Global Coordinator and Joint Bookrunner in the SEK 487 million Capital Increase by BioInvent
  • Joint Global Coordinator and Joint Bookrunner in the c. SEK 400 million Capital Increase by Immunovia
  • Co-Manager in the USD 862 million Global Offering by argenx
  • Joint Bookrunner in the SEK 1,414 million Capital Increase by Oncopeptides
  • Co-Manager in the USD 154 million Global Offering of DBV Therapeutics
  • Joint Global Coordinator and Joint Bookrunner in the €19.0 million Capital Increase by Sequana Medical
  • Lead Manager in the USD 557 million Global Offering by argenx
  • Co-Manager in the USD 79.2 million US Public Offering by Merus
  • Co-Manager in the USD 57.5 million Capital Increase by ProQR
  • Co-Manager in the USD 150 million Nasdaq IPO of BioNTech
  • Sole Bookrunner in the €9.0 million Capital Increase by MDxHealth
  • Co-Manager in the USD 20.0 million Global Offering of Celyad
  • Co-Manager in the USD 582 million NASDAQ IPO of Genmab
  • Joint Bookrunner in the €116 million Secondary Sale of Fagron shares by Waterland and Baltisse
  • Joint Bookrunner in the €48.7 million Rights Issue by Transgene

 

Contact

Jan De Kerpel
Kathrin Erfurth

Transactions