Molecular Partners U.S. Initial Public Offering and NASDAQ listing. The advisors
Molecular Partners, a clinical-stage biotech company, announced the pricing of its Initial Public Offering of 3,000,000 American Depositary Shares (ADS) in the United States at a public offering price of USD 21.25 per ADS, for total gross proceeds of approximately USD 63.8 m. Each ADS represents one new ordinary share issued by Molecular Partners out of its authorized share capital. Trading of the ADSs commenced on the Nasdaq Global Select Market on Wednesday, June 16, 2021 under the ticker symbol “MOLN.” Molecular Partner’s ordinary shares continue to be listed and traded on SIX Swiss Exchange making the stock dual listed.
Homburger acted as legal counsel to Molecular Partners in this transaction. The Homburger team was led by partner Dieter Gericke (corporate / m&a, capital markets, pictured above) and included partner Stefan Oesterhelt (tax) as well as associates Lorenzo Togni, Karin Mattle and Francesco Bernasconi (all corporate / m&a, capital markets) and junior associate Tanja Niederer (corporate / m&a, capital markets).
Advestra acted as Swiss legal counsel to the banking syndicate. The team included Alexander von Jeinsen (pictured left), Thomas Reutter and Fabian Loretan (all capital markets) and Laurent Riedweg (tax).
J.P. Morgan, SVB Leerink and Cowen acted as joint book-running managers for the offering. RBC Capital Markets acted as the bookrunner, Kempen & Co as the lead manager for the offering and Citi, acting through Citibank, acted as depositary bank.
The new ordinary shares underlying the ADSs will be issued from Molecular Partners’ authorized capital under exclusion of the existing shareholders’ pre-emptive rights. In addition, Molecular Partners has granted the underwriters a 30-day option to purchase up to an additional 450,000 ADSs at the initial public offering price, less underwriting discounts and commissions.
The offering was expected to close on or about June 18, 2021, subject to customary closing conditions.