Celyad Oncology raises €500,000 via Fortress private placement

Celyad Oncology SA (Euronext: CYAD) has entered into a subscription agreement for a €500,000 private placement with CFIP CLYD (UK) Limited, an affiliate of Fortress Investment Group LLC, according to a company statement.

Under the terms of the agreement, Fortress will receive 2,500,000 newly issued ordinary shares at €0.20 per share, representing a 15% discount to the volume-weighted average price of Celyad Oncology shares on Euronext Brussels over the preceding ten trading days. The transaction is expected to close on or around July 15, 2026, subject to customary closing conditions.

Following the share issuance, Fortress is expected to hold approximately 60.52% of the company's outstanding shares and approximately 68.75% of voting rights. The placement was conducted under the company's authorized capital approved at the Extraordinary Shareholders' Meeting of November 14, 2023, with existing shareholders' preferential subscription rights cancelled in favor of Fortress.

The company said net proceeds will be used for working capital and general corporate purposes. The transaction is expected to extend Celyad Oncology's cash runway from Q3 2026 to mid-Q2 2027.

Because Fortress qualifies as a related party under Belgian corporate law, a committee of independent directors reviewed the transaction. The committee concluded the transaction "is to the advantage and in the interest of the Company" after examining alternative funding options. The company's auditor found no material inconsistencies in the accounting and financial information supporting the transaction.

Celyad Oncology is a biotechnology company headquartered in Mont-Saint-Guibert, Belgium, focused on CAR-T cell therapy intellectual property.

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