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Accelerated Bookbuild Offering

€ 22.5 million
Joint Global Coordinator & Joint Bookrunner
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Sequana Medical

Joint Global Coordinator and Joint Bookrunner

Kempen & Co acted as Joint Global Coordinator & Joint Bookrunner in the successful capital increase via Accelerated Bookbuild Offering of €22.5 million of Sequana Medical

Transaction highlights

  • Capital increase by way of Accelerated Bookbuild Offering comprising 2,647,059 new shares, representing approximately 17% of the Company’s outstanding share capital
  • The deal was priced at €8.50 per share, which is c. 42% above the offer price of Sequana Medical’s previous capital increase approximately one year ago
  • The transaction launched following supportive market sounding and was upsized due to strong demand once in the market both by core existing and new investors, including European and US investors
  • Net proceeds will be used to continue and advance the North American pivotal study of the alfapump® in liver disease, and the repeated dose study of the alfapump DSR® (Direct Sodium Removal) in diuretic-resistant heart failure patients
  • This transaction represents the third transaction in which Kempen & Co acted as Joint Global Coordinator and Joint Bookrunner for the Company following a capital increase in 2020 and the IPO in early 2019, underpinning our ambition to be a long-term partner for our clients
  • Moreover, Sequana Medical’s capital increase marks Kempen & Co’s 4th ECM transaction for a European Life Sciences company priced in 2021 year to date 

Company description

Sequana Medical is a commercial stage medical device company developing the alfapump® platform for the treatment of fluid overload in liver disease, malignant ascites and heart failure where diuretics are no longer effective. Fluid overload is a fast growing complication of advanced liver disease driven by NASH (non-alcoholic steatohepatitis) related cirrhosis and a common complication in heart failure with diuretic resistance being widespread in both of these indications. Both indications leverage Sequana Medical’s alfapump®, unique, fully implanted wireless device that automatically pumps fluid from the abdomen into the bladder, where it is naturally eliminated through urination.

Background Kempen Life Sciences & Healthcare

 In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

  • Co-Manager in the USD 115 million US Public Offering by Autolus Therapeutics
  • Co-Manager in the USD 165 million Nasdaq Initial Public Offering by Pharvaris
  • Passive Bookrunner in the USD 518 million US Public Offering by CureVac
  • Lead Manager in the USD 120 million US Public Offering by Merus
  • Financial Adviser to DCprime in its merger with Immunicum
  • Joint Bookrunner in the SEK 564 million Capital Increase by Cantargia
  • Sole Financial Adviser in the sale of Galapagos’ service operation, Fidelta, to Selvita for a total consideration of €31.2 million
  • Placement Agent in Investinor’s Secondary Sell-Down of c. 4 million shares in Calliditas Therapeutics
  • Lead Manager in the USD 85.0 million Nasdaq Initial Public Offering by Galecto
  • Joint Bookrunner in the €31.0 million Capital Increase by Sensorion
  • Bookrunner in the USD 245 million Nasdaq Initial Public Offering by Curevac
  • Co-Manager in the USD 49.0 million US Public Offering by Centogene
  • Joint Bookrunner in the SEK 1.11 billion Capital Increase by Hansa Biopharma
  • Joint Bookrunner in the CHF 80.2 million Capital Increase by Molecular Partners
  • Co-Manager in the USD 690 million US Public Offering by Ascendis Pharma
  • 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

Contact

Jan De Kerpel
Kathrin Erfurth

Transactions