Nanobiotix Halts Paris Trading to Price €75 Million Global Offering

Nanobiotix, a late-stage biotechnology firm, paused trading on Euronext Paris to execute a capital raise of approximately €75 million aimed at funding its clinical trials and research.

Biotechnology company Nanobiotix SA halted trading of its ordinary shares on Euronext Paris on May 21 to finalize the pricing and allocation of a global offering valued at approximately €75 million ($87 million). The move is critical for the company as it seeks to fund its advanced clinical pipeline.

"This trading halt takes place... in order to allow for the confirmation of allocations to investors and the announcement of the pricing of the Global Offering," the company said in its press release. Trading is expected to resume at approximately 3:30 p.m. Paris time.

The global offering, managed by joint bookrunners Jefferies, TD Cowen, and Stifel, consists of American Depositary Shares (ADSs) offered in the United States and a combination of ordinary shares and pre-funded warrants for qualified investors in Europe and other regions.

The successful completion and pricing of the offering are pivotal for Nanobiotix, providing the necessary capital to advance its lead product candidates through late-stage clinical trials. The final price will determine the level of share dilution and serve as a key indicator of investor confidence in the firm's physics-based approach to cancer treatment.

Use of Proceeds

According to a prior announcement on May 20, Nanobiotix intends to use the net proceeds from the offering to fund the development of its lead product candidate, NBTXR3. A significant portion will be allocated to its ongoing global Phase 3 trial, NANORAY-312, for the treatment of locally advanced head and neck squamous cell carcinoma. Funds will also support other ongoing and future clinical and pre-clinical programs, as well as provide for working capital and general corporate purposes.

Offering Structure and Timeline

The trading suspension began at the opening of the market in Paris at 9:00 a.m. CEST on May 21. The offering's structure allows for participation from both U.S. retail and institutional investors through ADSs listed on the Nasdaq, where Nanobiotix trades under the ticker NBTX, and European qualified investors on its home market of Euronext Paris. The pre-funded warrants offer an alternative investment structure within the international portion of the deal. The resumption of trading is timed to coincide with the U.S. market open, allowing for a synchronized reflection of the new pricing across both exchanges.

This article is for informational purposes only and does not constitute investment advice.