Ascendis Pharma (ASND) Prices 6.32M Common Shares at $19

October 19, 2016 6:02 AM EDT

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Ascendis Pharma A/S (Nasdaq: ASND) announced the pricing of its underwritten public offering of 6,315,789 American Depositary Shares, each of which represents one ordinary share of Ascendis, at a price to the public of $19.00 per ADS. All of the ADSs are being offered by Ascendis. The offering is expected to close on or about October 24, 2016 subject to customary closing conditions. In addition, Ascendis has granted the underwriters a 30-day option to purchase up to an additional 947,368 ADSs at the public offering price, less the underwriting commissions.

Ascendis estimates net proceeds from the offering to be approximately $112.0 million (assuming no exercise of the underwriters' option to purchase additional ADSs), after deducting the underwriting commissions and estimated offering expenses. Ascendis intends to use the net proceeds of the offering to support the clinical development and regulatory approval of TransCon Growth Hormone, to fund development of other TransCon product candidates, including TransCon Parathyroid Hormone (PTH) and TransCon C-Type Natriuretic Peptide (CNP), to strengthen its TransCon technology and for working capital and general corporate purposes.

J.P. Morgan Securities LLC, BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering. Wedbush Securities Inc. is acting as co-manager.



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