Business
Pricing of IPO of Exscientia in the United States
Pricing of IPO of Exscientia in the United States.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7055N\n Frontier IP Group plc\n 01 October 2021\n \n \n \n \n The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n RNS\n \n \n AIM: FIPP\n \n \n 01 October 2021\n \n \n \n \n \n Frontier IP Group Plc\n \n \n (\"Frontier IP\" or the \"Group\")\n \n \n \n \n \n \n \n \n Portfolio news - Pricing of initial public offering of Exscientia in the United States\n \n \n \n \n \n Further to the announcement released on 27 September 2021, Frontier IP, a specialist in commercialising intellectual property, notes that its portfolio company Exscientia plc (\"Exscientia\") has announced today the pricing of its initial public offering of \n 13,850,000\n American Depositary Shares (\"ADSs\") at a public offering price of $22 per ADS. Exscientia has raised gross proceeds of approximately $304.7 million.\n \n \n \n \n \n In addition, Exscientia announced the concurrent sale of an additional 7,272,727 ADSs at the initial offering price of $22.00 per ADS, for gross proceeds of $160.0 million, in private placements to SVF II Excel (DE) LLC, or Softbank, and the Bill & Melinda Gates Foundation. \n \n \n \n \n \n The offering is expected to close on or about 05 October 2021 subject to customary closing conditions and the ADSs of Exscientia are expected to begin trading on the Nasdaq Global Select Market on 01 October 2021. Each ADS represents one ordinary share in Exscientia. \n \n \n \n \n \n A registration statement relating to these securities became effective on September 30, 2021 and can be accessed here: \n \n \n https://www.sec.gov/Archives/edgar/data/1865408/000110465921119607/tm2119783-11_f1a.htm\n \n \n \n \n \n From admission, Frontier IP will be interested in 1,564,800 ADSs in Exscientia. Based on the initial public offering price of $22 per ADS, Frontier IP's holding is valued at $34.4 million. \n \n \n \n \n \n The full Exscientia announcement is below.\n \n \n \n \n \n Further announcements will...