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Zenas BioPharma Announces Closing of Full Exercise of Underwriters’ Option to Purchase Additional Shares in Initial Public Offering

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Zenas BioPharma (Nasdaq: ZBIO), a clinical-stage biopharmaceutical company, announced the closing of the underwriters' full exercise of their option to purchase an additional 1,985,294 shares at $17.00 per share in its upsized initial public offering (IPO). This follows the initial offering of 13,235,294 shares, which closed on September 16, 2024. The total offering now amounts to 15,220,588 shares, generating gross proceeds of approximately $258.7 million. The shares began trading on the Nasdaq Global Select Market on September 13, 2024. Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities served as joint book-running managers. Registration statements for the shares were filed with the U.S. Securities and Exchange Commission and became effective on September 12, 2024.

Zenas BioPharma (Nasdaq: ZBIO), una compagnia biofarmaceutica in fase clinica, ha annunciato la chiusura dell'esercizio completo dell'opzione degli underwriting di acquistare ulteriori 1.985.294 azioni a $17,00 per azione nella sua offerta pubblica iniziale (IPO) maggiorata. Questo segue l'offerta iniziale di 13.235.294 azioni, che si è chiusa il 16 settembre 2024. L'offerta totale ora ammonta a 15.220.588 azioni, generando proventi lordi di circa $258,7 milioni. Le azioni hanno iniziato a essere scambiate sul Nasdaq Global Select Market il 13 settembre 2024. Morgan Stanley, Jefferies, Citigroup e Guggenheim Securities hanno servito come manager congiunti della registrazione. Le dichiarazioni di registrazione per le azioni sono state presentate alla U.S. Securities and Exchange Commission e sono diventate effettive il 12 settembre 2024.

Zenas BioPharma (Nasdaq: ZBIO), una empresa biofarmacéutica en etapa clínica, anunció el cierre del pleno ejercicio de la opción de los suscriptores de adquirir 1,985,294 acciones adicionales a $17.00 por acción en su oferta pública inicial (IPO) incrementada. Esto sigue a la oferta inicial de 13,235,294 acciones, que se cerró el 16 de septiembre de 2024. La oferta total ahora asciende a 15,220,588 acciones, generando ingresos brutos de aproximadamente $258.7 millones. Las acciones comenzaron a cotizar en el Nasdaq Global Select Market el 13 de septiembre de 2024. Morgan Stanley, Jefferies, Citigroup y Guggenheim Securities fungieron como administradores conjuntos de la oferta. Las declaraciones de registro para las acciones fueron presentadas ante la Comisión de Bolsa y Valores de EE. UU. y se hicieron efectivas el 12 de septiembre de 2024.

Zenas BioPharma (Nasdaq: ZBIO), 임상 단계의 생명공학 회사가 공모 증권 인수자들의 추가 1,985,294주 매입 옵션의 완전한 행사를 완료했다고 발표했습니다. 이는 2024년 9월 16일에 종료된 13,235,294주의 초기 공모에 이어가는 것입니다. 총 공모 수량은 이제 15,220,588주로, 약 2억 5,870만 달러의 총 수익을 창출하고 있습니다. 주식 거래는 2024년 9월 13일 Nasdaq Global Select Market에서 시작되었습니다. Morgan Stanley, Jefferies, CitigroupGuggenheim Securities가 공동 발행 주관사로 활동했습니다. 주식에 대한 등록 서류는 미국 증권 거래 위원회에 제출되었으며 2024년 9월 12일자로 효력이 발생했습니다.

Zenas BioPharma (Nasdaq: ZBIO), une entreprise biopharmaceutique en phase clinique, a annoncé la clôture de l'exercice complet de l'option d'achat des souscripteurs pour un supplément de 1.985.294 actions à 17,00 $ par action dans le cadre de son introduction en bourse (IPO) augmentée. Cela fait suite à l'offre initiale de 13.235.294 actions, qui s'est clôturée le 16 septembre 2024. L'offre totale s'élève désormais à 15.220.588 actions, générant des produits bruts d'environ 258,7 millions de dollars. Les actions ont commencé à être négociées sur le Nasdaq Global Select Market le 13 septembre 2024. Morgan Stanley, Jefferies, Citigroup et Guggenheim Securities ont agi en tant que co-managers principaux. Les déclarations d'enregistrement pour les actions ont été déposées auprès de la U.S. Securities and Exchange Commission et sont devenues effectives le 12 septembre 2024.

Zenas BioPharma (Nasdaq: ZBIO), ein biopharmazeutisches Unternehmen in klinischer Phase, gab bekannt, dass die vollständige Ausübung der Option der Underwriter zum Kauf von zusätzlich 1.985.294 Aktien zu einem Preis von 17,00 $ pro Aktie im Rahmen ihres erhöhten Börsengangs (IPO) abgeschlossen ist. Dies folgt der ursprünglichen Angebot von 13.235.294 Aktien, die am 16. September 2024 abgeschlossen wurde. Das Gesamtangebot beläuft sich nun auf 15.220.588 Aktien und generiert Bruttoeinnahmen von etwa 258,7 Millionen $. Die Aktien begannen am 13. September 2024 an der Nasdaq Global Select Market zu handeln. Morgan Stanley, Jefferies, Citigroup und Guggenheim Securities fungierten als gemeinsame Buchführer. Die Registrierungserklärungen für die Aktien wurden bei der US-amerikanischen Securities and Exchange Commission eingereicht und wurden am 12. September 2024 wirksam.

Positive
  • Zenas BioPharma raised approximately $258.7 million from its IPO.
  • The full exercise of the underwriters' option indicates strong investor demand.
  • Shares began trading on the Nasdaq Global Select Market, increasing visibility and potential liquidity.
Negative
  • Share dilution due to the additional issuance of 1,985,294 shares.

Insights

Zenas BioPharma's successful IPO and full exercise of the underwriters' option signals strong investor confidence in the company's potential. The $258.7 million gross proceeds provide substantial capital for advancing their immunology-based therapies pipeline. This significant funding positions Zenas competitively in the biotech sector, potentially accelerating their R&D efforts and clinical trials.

The upsized offering and overallotment exercise suggest high demand, which could lead to positive momentum in the stock's early trading. However, investors should note that newly public biotech companies often face volatility as they progress through clinical stages. The involvement of major underwriters like Morgan Stanley and Jefferies adds credibility but doesn't guarantee long-term success.

The successful IPO of Zenas BioPharma reflects a favorable market sentiment towards immunology-focused biotechs. The company's ability to raise $258.7 million in the current economic climate is noteworthy, indicating investor appetite for innovative healthcare solutions. This substantial funding could potentially disrupt the competitive landscape in the immunology therapeutics market.

The initial pricing at $17 per share and full exercise of the overallotment option suggest a well-executed IPO strategy. However, investors should monitor how Zenas allocates these funds and tracks against its development milestones. The company's performance in the coming quarters will be important in justifying its valuation and maintaining investor interest in a sector known for its high risk-reward profile.

WALTHAM, Mass., Sept. 19, 2024 (GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas”), (Nasdaq: ZBIO) a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative immunology-based therapies, today announced that the underwriters of its previously announced upsized initial public offering of 13,235,294 shares of its common stock, which closed on September 16, 2024, exercised in full their option to purchase an additional 1,985,294 shares at the initial public offering price of $17.00 per share. After giving effect to the full exercise of the underwriters’ option to purchase additional shares, which closed on September 19, 2024, Zenas sold 15,220,588 shares in its initial public offering, resulting in gross proceeds of approximately $258.7 million. All of the shares were sold by Zenas. Zenas’ shares began trading on the Nasdaq Global Select Market on September 13, 2024 under the ticker symbol “ZBIO”.

Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities acted as joint book-running managers for the offering.

Registration statements relating to the shares sold in the offering have been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on September 12, 2024. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; and from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Zenas BioPharma, Inc.

Zenas is a clinical-stage global biopharmaceutical company committed to becoming a leader in the development and commercialization of transformative immunology-based therapies for patients in need. Our core business strategy combines our experienced leadership team with a disciplined product candidate acquisition approach to identify, acquire and develop product candidates globally that we believe can provide superior clinical benefits to patients living with autoimmune diseases. Zenas’ lead product candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcγRIIb, which are broadly present across B cell lineage, to inhibit the activity of cells that are implicated in many autoimmune diseases without depleting them.

Investor Contact:
Matthew Osborne
Investor Relations and Corporate Communications
Matt.osborne@zenasbio.com

Media Contact:
Argot Partners
Zenas@argotpartners.com


FAQ

What is the total amount raised by Zenas BioPharma in its IPO?

Zenas BioPharma raised approximately $258.7 million in its IPO.

When did Zenas BioPharma's shares start trading on Nasdaq?

Zenas BioPharma's shares began trading on Nasdaq on September 13, 2024.

What is the ticker symbol for Zenas BioPharma?

The ticker symbol for Zenas BioPharma is ZBIO.

Who were the joint book-running managers for Zenas BioPharma's IPO?

Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities acted as joint book-running managers.

What was the price per share in Zenas BioPharma's IPO?

The price per share in Zenas BioPharma's IPO was $17.00.

Zenas BioPharma, Inc.

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