Friday, March 29, 2024
HomeLatest Pharma-NewsSanofi announces pricing of Regeneron stock offering

Sanofi announces pricing of Regeneron stock offering

May 26, 2020: “Sanofi announced that it has agreed to sell 11.8 million shares of Regeneron common stock through a registered offering at a price of $515.00 per share.

As previously announced, Regeneron will repurchase 9.8 million shares or $5 billion in common stock from Sanofi at the offering price less the underwriting discount.

Sanofi expects to use the net proceeds of the offering and the repurchase to further execute on its strategy to drive innovation and growth.

- Advertisement -

In connection with the offering, the underwriters have been granted an option to purchase up to 1.2 million additional Regeneron shares at the price payable by the underwriters in the offering, exercisable within the next 30 days.

If the option is fully exercised, the offering and repurchase will together result in gross proceeds to Sanofi of $11.7 billion and the sale of Sanofi’s entire holding in Regeneron, excluding 400,000 Regeneron shares that Sanofi is retaining.

The public offering is occurring simultaneously in the United States and internationally through underwriters led by BofA Securities and Goldman Sachs, together with Barclays, BNP Paribas, Citigroup, J.P. Morgan, Morgan Stanley as joint book-running managers.

The shares offered to the public are being offered pursuant to an existing effective shelf registration statement (including a base prospectus) that has been filed by Regeneron with the U.S. Securities and Exchange Commission (the “SEC”). 

Before you invest, you should read the prospectus in that registration statement and other documents Regeneron has filed with the SEC, including the preliminary prospectus supplement dated May 26, 2020, for more complete information about Regeneron and this offering.”

http://www.globenewswire.com/news-release/2020/05/26/2039026/0/en/Sanofi-announces-pricing-of-Regeneron-stock-offering.html?print=1

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular