Benzinga | Dec 8, 2020 05:59AM EST

Amryt Announces $40M Private Placement with Leading Biotech Investors; 3.2M ADS's @$12.50/ADS

Amryt (NASDAQ:AMYT) announced today that it has entered into securities purchase agreements with several institutional accredited investors for the private placement of 3,200,000 American Depositary Shares ("ADSs"), each representing five ordinary shares, at a purchase price of $12.50 per ADS, yielding expected gross proceeds of $40 million. The private placement includes a mix of new and existing investors including Stonepine Capital, LP, Aquilo Capital Management, LLC, Amati Global Investors, Athyrium Capital Management, LP and Highbridge Capital Management, among others.

Proceeds from the private placement will be used for working capital and general corporate purposes, as well as to potentially acquire, in-license or invest in rare disease technologies, products, businesses or assets.

SVB Leerink acted as lead placement agent to the Company in connection with the private placement. Cantor Fitzgerald and Canaccord Genuity acted as co-placement agents.