VectivBio Holding AG, a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for severe rare conditions for which there is a significant unmet medical need, has announced the pricing of its initial public offering of 7,500,000 ordinary shares at a public offering price of US$17 per share. The gross proceeds to Vectiv, before deducting underwriting discounts and commissions and offering expenses, are expected to be US$127.5 million. All of the ordinary shares are being offered by Vectiv. In addition, Vectiv has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ordinary shares at the initial public offering price, less the underwriting discounts and commissions.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partner Nathan Ajiashvili, with New York associates Kaj Nielsen and Isabelle Sawhney.