Syncona investee Autolus sells more American shares

22nd Dec 2022 08:04

(Sharecast News) - Life science-focussed healthcare company Syncona said on Thursday that its portfolio company Autolus Therapeutics had announced that the underwriters of its public offering of American depositary shares (ADSs), which closed on 13 December, had partially exercised their option to purchase an additional 6,927,102 ADSs.

The FTSE 250 company said the option was at a price of $2.00 per ADS, resulting in additional gross proceeds to Autolus of about $13.9m (£11.5m).

After issuing the additional shares on Wednesday, Autolus had sold a total of 81,927,102 ADSs in the offering, for total gross proceeds of $163.9m.

"Syncona invested approximately $28m in the offering," the company said in its statement.

"Following the offering, Syncona retains a stake of approximately 17.9% in Autolus - amounting to 33,527,163 ordinary shares - which was valued at £55.5m on 21 December according to the offering price."

At 1054 GMT, shares in Syncona were up 0.68% at 178.2p.

Reporting by Josh White for Sharecast.com.