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Evotec SE, the 28-year-old Hamburg-based German multinational drug discovery and development company, said on Tuesday that it had filed for an IPO (Initial Public Offerings) with the US SEC (Securities and Exchange Commission), while the biotech firm could be valued at about $9.2 billion on the top-end of its IPO price range. Nevertheless, the German multinational drugmaker, which had received a generous grant from Bill & Melinda Gates Foundation last year to identify and develop a potential monoclonal antibody drug that could ease the severity of illness in patients infected with the pandemic contagion, already boasted a market capitalization of $8.3 billion in Frankfurt Stock Exchange, data from Refinitiv had unenveloped.
In factuality, founded back in the 1993 by a Manfred Eigen (1927-2019), the German biophysical Chemistry scholar who had won a Nobel Prize in 1967 for his work on first chemical reactions in response to very short action potentials, Evotec has been offering wide-ranging technologies that enable drugmakers to concur fast discoveries.
Evotec SE seeks $9.2 billion valuation in US public market floatation
According to Evotec SE IPO filing with the US SEC disclosed earlier in the day, the German biotech firm would seek to raise up to $575.5 million at its US public market floatation, while its US IPO would offer 22 million ADSs (American Depository Shares) at a price tag of $26.16 apiece.
Nonetheless, according to the financial terms of Evotec’s US public market listing, each NYSE-listed share would account for a half of an ordinary share listed in Frankfurt.
Bank of America Securities alongside Morgan Stanley would act as the lead underwriters of Evotec SE US IPO, the Hamburg-based German multinational drugmaker had added.