Nanobiotix (NASDAQ: NBTX) announced the pricing of its global follow-on offering, raising approximately €85.0 million in gross proceeds before underwriting commissions and expenses.

The offering consists of 225,373 American Depositary Shares priced at $38.98 each in the U.S. market, and 1,959,289 ordinary shares plus 345,099 pre-funded warrants priced at €33.60 and €33.57 respectively in international markets. Each ADS represents one ordinary share.

The subscription price represents a 14.92% discount to the volume weighted average price over the three trading sessions preceding the pricing. Jefferies, TD Cowen and Stifel serve as global coordinators and joint bookrunners for the offering.

The company plans to allocate the net proceeds with less than 10% supporting development of JNJ-1900 (NBTXR3), 50-60% advancing Nanoprimer and other platforms, and 30-40% for general corporate purposes. Nanobiotix expects the proceeds, combined with existing cash, will fund operations into 2029.

The pre-funded warrants carry an exercise price of €0.03 per share and remain exercisable until May 26, 2036. The warrants will not trade on any exchange, though shares issued upon exercise will be admitted to trading on Euronext under the same ISIN.

The offering includes a 30-day over-allotment option for underwriters to purchase additional ADSs up to 15% of the total offering amount. The transaction received support from existing shareholders including Qatar Holding LLC and Invus.

The global offering is expected to close on May 26, 2026, subject to customary closing conditions. Company board members are subject to a 90-day lock-up period following the pricing date.