Immunology Company argenx Announces $1.27 Billion Offering
New York – July 26, 2023 – Cooley advised J.P. Morgan, Morgan Stanley, Goldman Sachs, BofA Securities and TD Cowen, representatives of the several underwriters, in the $1.27 billion follow-on offering by argenx SE, a global immunology company. Partners Rich Segal and Div Gupta, along with associate Darah Protas, led the Cooley team advising the underwriters.
On July 19, 2023, argenx announced full exercise of the underwriters’ option to purchase additional American depository shares (ADSs), bringing the total global offering gross proceeds to approximately $1.27 billion, from the sale of 2,581,633 ADSs at a price of $490 per ADS and the sale of 663,918 ordinary shares at a price of 436.37 euros per ordinary share. The offering closed on July 24, 2023.
Cooley has advised the underwriters on every public offering by argenx since its 2017 initial public offering, raising a total of $5.3 billion in gross proceeds.
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