Gide, counsel to Erytech on its initial public offering on the NASDAQ for USD 144 million
20 November 2017
Deals | France | USA | Capital Markets
Gide has advised Erytech Pharma ("Erytech"), a company listed on Euronext Paris, on its initial public offering on the Nasdaq Global Select Market, through a reserved capital increase to American and European specialist investors for a total aggregate amount of USD 144 million, after full exercise of the over-allotment option.
Erytech is a French clinical-stage biopharmaceutical company developing innovative therapies by encapsulating therapeutic drug substances inside red blood cells. The funds raised will in particular enable the company to conduct its Phase 3 studies for the treatment of second-line pancreatic cancer and the treatment of first-line acute lymphoblastic leukemia.
This transaction is the first IPO on the Nasdaq Global Select Market of a French Euronext-listed company since 2014.
Gide advised Erytech on the French law aspects of this operation, with a team led by partner Arnaud Duhamel, with associates Guilhem Richard, Juliette Pierre and Mariléna Gryparis. Tax aspects were handled by partner Olivier Dauchez, with associate Alexandre Bochu. Erytech was advised by Cooley LLP on aspects of US law.
Linklaters Paris advised the banking syndicate on French law aspects. Covington & Burling LLP advised on the US law aspects.
Gide has advised Erytech on other private placement capital increases, from 2014 onwards. Linklaters LLP in Paris had also previously advised the banking syndicate.