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Abivax Announces Launch of Public Offering of American Depositary Shares

ABVX
  • Abivax SA announced the launch of an underwritten public offering of approximately $600 million (€527 million) of American Depositary Shares (ADSs) representing ordinary shares.
  • The Offering is registered under the U.S. Securities Act of 1933 & includes an option for underwriters to purchase up to an additional 15% of the ADSs.
  • ADSs will be issued via a capital increase without shareholder preferential subscription rights based on resolutions from the May 11, 2026 General Meeting.
  • The final offering price & number of ADSs will be determined through a book-building process subject to market conditions.
  • Trading of Abivax Ordinary Shares on Euronext is expected to be suspended on July 1, 2026, prior to the opening of ADS trading on Nasdaq at 3:30 p.m. Paris time.
  • Net proceeds are intended for potential U.S. commercialization of obefazimod, clinical research for ulcerative colitis & Crohn's disease, & general corporate purposes.
  • The offering price must comply with French regulations, set at no less than the weighted average Euronext share price over 3 to 90 days, possibly reduced by a maximum 10% discount.
  • Board members, executive officers, & the Company are subject to a 60-day contractual lock-up following the final prospectus supplement.
  • Leerink Partners, Morgan Stanley, Piper Sandler, & Guggenheim Securities act as joint bookrunning managers, while LifeSci Capital acts as a bookrunning manager & Van Lanschot Kempen as lead manager.
  • An automatic shelf registration statement (Form F-3) was filed with the SEC on July 23, 2025 & amended on June 30, 2026.
  • Potential investors face risks including management discretion over proceeds, immediate dilution, potential price depression from concurrent sales, & restrictions on operations.
  • Abivax is a clinical-stage biotechnology company focused on stabilizing immune responses in chronic inflammatory diseases, with obefazimod currently in Phase 3 trials for ulcerative colitis.