SOURCE: Galapagos NV

October 19, 2010 08:29 ET

Galapagos successfully completes placement of 2,389,347 new ordinary shares

MECHELEN, BELGIUM--(Marketwire - October 19, 2010) -


Proceeds to be used for future acquisitions

Galapagos NV (Euronext: GLPG) announces that it has successfully raised EUR28.7 million through an accelerated bookbuild offering of 2,389,347 new ordinary shares (the "Shares") at a price of EUR12.00 per Share.

Allocation of the Shares has taken place today with international institutional and other eligible investors. Payment for and delivery of the Shares is expected to take place on 22 October 2010, at which date the newly issued Shares are expected to be admitted to listing on NYSE Euronext Brussels/Amsterdam. The number of 2,389,347 Shares represents just below 10% of the number of outstanding shares of the company on the day of the placement. Following issuance of the Shares, Galapagos will have a total of 26,282,827 outstanding ordinary shares.

The proceeds of the offering will be used to finance possible future acquisitions.

ABN AMRO and KBC Securities acted as Joint Global Coordinators and Joint Bookrunners.

About Galapagos

Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company is progressing one of the largest pipelines in biotech, with six clinical and over 50 small molecule discovery/pre-clinical programs. Through risk/reward-sharing alliances with GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Merck & Co., Roche and Servier, Galapagos is eligible to receive up to EUR3.3 billion in downstream milestones, plus royalties. The Galapagos Group has over 800 employees and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com

Additional information

The new shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration. The Company does not intend to register any portion of the Offering in the United States or to conduct a public offering of securities in the United States. In relation to each member State of the European Economic Area which has implemented the Prospectus Directive (as defined below) (each, a "Relevant Member State"), with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State (the "Relevant Implementation Date"), the Offering will not be made to the public in that Relevant Member State, except, with effect from and including the Relevant Implementation Date:

(i) to qualified investors (as defined in the Prospectus Directive or implementing legislation in the Relevant Member State) ("Qualified Investors");

(ii) to fewer than 100 natural or legal persons (other than qualified investors as defined in the Prospectus Directive); or

(iii) in any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article 3 of the Prospectus Directive. For the purposes of this provision and when used elsewhere in this announcement, the expression an "offer of Shares to the public", or any similar expression, in relation to any Shares in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the Offering and the Shares to be offered so as to enable an investor to decide to purchase or subscribe for the Shares, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression "Prospectus Directive" when used in this announcement means Directive 2003/71/EC and includes any relevant implementing measure in each Relevant Member State.

Cautionary note regarding forward-looking statements

This release may contain forward-looking statements, including, without limitation, statements containing the words "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," and "continues," as well as similar expressions. Such forward-looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance or achievements of Galapagos, or industry results, to be materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. Galapagos expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless required by law or regulation.

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Source: Galapagos NV via Thomson Reuters ONE

Contact Information

  • CONTACTS

    Galapagos NV
    Onno van de Stolpe
    CEO
    Tel: +31 6 2909 8028
    Email Contact

    Elizabeth Goodwin
    Director Investor Relations
    Tel: +31 6 2291 6240
    Email Contact