European Financial Adviser ProQR
Kempen is pleased to announce that it acted as European Financial Adviser to ProQR in its USD 104 million public offering in the United States
Transaction highlights
- Transaction launch on the back of positive interim results from the Phase 1/2 clinical trial of QR-110 in Leber’s congenital amaurosis 10 Patients which triggered a share price increase of c.120% prior to transaction launch
- Placement of 5,750,000 ordinary shares for gross proceeds of USD 90.6 million, upsized by c.21% from the original deal size of USD 75 million on the back of strong investor demand generated during bookbuilding
- Issue price of USD 15.75 per ordinary shares represented a discount of 10.3% versus the pre-announcement closing price and premium of 98.1% versus the pre-clinical data release closing price the day prior to transaction launch
- Gross proceeds increased by c. USD 13.6 million to USD 104.1 million upon exercise of the over-allotment option in full
- In the transaction, Kempen assisted ProQR in the execution of its marketing strategy, with a specific focus on European Life Science specialist investors
- Dutch ProQR is the first company that Kempen advises on an ECM transaction with a listing only on US NASDAQ. Thanks to the recently obtained approval to act as underwriter in US offerings Kempen, in close collaboration with Kempen & Co U.S.A., is able to assist its corporate clients in equity capital market transactions on both the European and US stock exchanges
- This transaction marks Kempen’s seventh Life Sciences transaction this year and the fourth US Life Sciences ECM transaction in which Kempen acted as adviser
Company description
ProQR Therapeutics is a clinical-stage biopharmaceutical company focused on the development of transformative RNA medicines for the treatment of severe genetic rare diseases such as Leber’s congenital amaurosis 10, dystrophic epidermolysis bullosa and cystic fibrosis using their unique proprietary RNA repair platform technologies. ProQR Therapeutics was founded in 2012 and is listed on the NASDAQ since 2014.
Background Kempen Life Sciences & Healthcare
Over the years, Kempen has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include: Joint Global Coordinator and Joint Bookrunner in the EUR 77.5 million capital increase by Mithra Pharmaceuticals, Adviser in the Capital Increase of dacadoo, Issuer’s Adviser in the USD 54.4 million Global Offering of Celyad, Joint Global Coordinator and Joint Bookrunner in the EUR 36 million capital increase by MDxHealth, financial adviser and coordinating placement agent in the EUR 30 million capital increase by Mainstay Medical, Joint Bookrunner in the SEK 155 million capital increase by Medivir, Issuer’s Adviser to argenx in its USD 266 million public offering in the United States and USD 115 million NASDAQ IPO, Joint Bookrunner in the SEK 244 million capital increase by Wilson Therapeutics combined with a placement of SEK 157 million of existing shares, Joint Bookrunner in the EUR 80 million capital increase by Biocartis and sole M&A advisor to SurgVision on its sale to Bracco.
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Transactions
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Accelerated Bookbuild Offering
Initial Public Offering
on Nasdaq
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Capital increase
Private Placement
US Public Offering
Initial Public Offering
US Public Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
Debt financing
US Public Offering
US Public Offering
Green Revolving Credit Facility
Sale to
Combination with
Accelerated Bookbuild Offering
Sale to
Accelerated Bookbuild Offering
Non-listed equity capital raising
Sale of majority stake to
Secondary Sell-Down in Calliditas Therapeutics
Capital increase
Initial Public Offering
Capital Increase
European FinTech
IPO
Accelerated Bookbuild Offering
Private Placement of shares in
Bridge financing
Undisclosed
Initial Public Offering
Rights issue
Accelerated Bookbuild Offering
US Public Offering
Accelerated Bookbuild Offering
US Public Offering
Merger with Arya Sciences Acquisition Corp. and subsequent Nasdaq listing
acquisition of
Initial Public Offering
Private Placement
Private Placement
Accelerated Bookbuild Offering
Global Accelerated Bookbuild Offering
Accelerated bookbuild offering
Sale of 456 unit landmark residential project in prime location The Hague
acquired by
public offer for
Sale and capital increase
and
Sale of Dutch residential development to
Global Offering
Accelerated Bookbuild Offering
Public takeover of
Sale of
to
Accelerated Bookbuild Offering
Capital increase
Global offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
Rights issue
a subsidiary of
Sale of German DIY portfolio to REDOS acting on behalf of Union Investment
Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
Three-day bookbuild offering
Rights issue
Acquisition of
Initial Public Offering
Accelerated Bookbuild Offering
Block trade in argenx shares
a subsidiary of
Sale of German retail portfolio to a real estate private equity firm
Sale of Dutch residential portfolio managed by
on behalf of investors to
Sale of
to
Bencis Capital Partners
Increase of stake in
Initial Public Offering
Acquisition of
Acquisition of
Acquisition of
Capital increase
Block trade in ERYTECH shares
Initial public offering
Accelerated bookbuild offering
Initial public offering
Acquisition of
Block trade in Boskalis shares
US public offering
US public offering
Sale to
US public offering
Sale of Rabo Bouwfonds CIF datacenter portfolio
to
Initial public offering
Acquisition of former Delta Lloyd portfolio from
Rights issue
Public offer for
Fundraise
Accelerated bookbuild offering
Public offer by German ADLER Real Estate
for Israeli
Public offer by German Vonovia
Sale of Dynamic Portfolios
Public offer by Spanish Colonial
for Spanish Axiare Real Estate
Accelerated bookbuild offering
Sale of 3 German residential portfolios by
to consortium of buyers
Accelerated bookbuild offering
US public offering
Accelerated bookbuild offering
Secondary offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Acquisition by
of
Acquisition of
by
Private placement
Acquisition by
of
Dutch wealth management activities
Acquisition by
of
from
Accelerated bookbuild offering
Initial public offering on NASDAQ
Share buy-back program
Acquisition by
of
Accelerated bookbuild offering
Secondary placement of 9.4% stake in
Public offer by
for
Public offer by German Vonovia
For Austrian Conwert
Secondary placement of 15% stake in
Formation of Passoã joint venture with
Accelerated bookbuild offering
Rights issue
Sale of 19% stake in
Accelerated bookbuild offering
Acquisition of the North American rights to RUCONEST by
from
Acquisition by
of
from
Strategic study
Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
Strategic study
Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Refinancing
Initial Public Offering
Initial public offering
Rights issue
On behalf of
Acquisition of
Rights issue
Acquisition of French shopping centre portfolio by Wereldhave
From French-Dutch Unibail-Rodamco
Refinancing
Acquisition of the cancer immunotherapy program by
from
Initial public offering
Initial public offering
Public offer by French Groupe SMABTP
For French Société de la Tour Eiffel
Acquisition of
by
Secondary listing on Euronext Paris
Initial public offering
Acquisition by
of
Accelerated bookbuild offering
Convertible bond issue
Fairness opinion in the public offer by
Sale of Hercules business to ZEG
Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
undisclosed PE firm
from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
Initial Public Offering
Equity issue
Refinancing
Sale of majority of shares to
Accelerated bookbuild offering
Initial public offering
Secondary offering
Accelerated bookbuild offering
Public offer by
for
Private placement
Public offer by
for
Rights issue