Syncona Regulatory News (SYNC)

Syncona Limited

Nightstar closes public offering

03 October 2018

Syncona Ltd, a leading healthcare company focused on investing in and building global leaders in life science, notes that its portfolio company Nightstar Therapeutics plc ("Nightstar"), a clinical-stage gene therapy company developing treatments for rare inherited retinal diseases, has announced the closing of its underwritten public offering of 4,600,000 American Depositary Shares ("ADSs") representing 4,600,000 ordinary shares, at a public offering price of $18.00 per ADS, which includes the exercise in full by the underwriters of their option to purchase up to an additional 600,000 ADSs. All ADSs sold in the offering were offered by Nightstar.

Syncona agreed to invest $18 million (£13.7 million) in the offering. Following the offering, Syncona retains a stake of 38.3% in Nightstar (amounting to 13,203,922 ordinary shares), which was valued at £185.6 million at the close of business on 02 October 2018.[1]

The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 547-6340, e-mail: Prospectus_Department@Jefferies.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, e-mail: barclaysprospectus@broadridge.com; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275, email: olprospectusrequest@ubs.com.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 [ENDS]

EnquiriesSyncona LtdAnnabel ClayTel: +44 (0) 20 7611 2010Tulchan CommunicationsMartin RobinsonLisa Jarrett-KerrTel: +44 (0) 207 353 4200 

Forward-looking statements - this announcement contains certain forward-looking statements with respect to the portfolio of investments of Syncona Ltd. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this announcement should be construed as a profit forecast. 

About Syncona:

Syncona is a leading FTSE250 healthcare company focused on investing in and building global leaders in life science. Our vision is to deliver transformational treatments to patients in truly innovative areas of healthcare while generating superior returns for shareholders.

We seek to partner with the best, brightest and most ambitious minds in science to build globally competitive businesses.

We take a long-term view, underpinned by a deep pool of capital, and are established leaders in gene and cell therapy. We focus on delivering dramatic efficacy for patients in areas of high unmet need.

About Nightstar

Nightstar is a leading clinical-stage gene therapy company focused on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases that would otherwise progress to blindness.

[1] As at exchange rates on 02 October 2018