NautaDutilh assisted Pharvaris with their underwritten offering of 8,250,000 ordinary shares and 500,000 pre-funded warrants at an offer price of USD 20.00 per share and USD 19.99 per pre-funded warrant. Pharvaris also granted an over-allotment option to the underwriters to purchase up to an additional 1,312,500 of ordinary shares. The gross proceeds to Pharvaris from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately USD 175 million, excluding any exercise of the underwriters’ option to purchase additional shares.
Pharvaris currently intends to use the net proceeds of this offering primarily to fund research and development expenses for its late-stage clinical programmes, the hiring of a sales and marketing team in the U.S. and related commercialisation expenses and for working capital and general corporate purposes. Pharvaris' ordinary shares are listed on NASDAQ (PHVS).
“We are honoured to have assisted Pharvaris alongside Kirkland & Ellis with their underwritten offering, which marks yet another milestone for the company. This offering will enable Pharvaris to advance their innovative clinical programmes and expand their presence in the U.S. market.”
The team further consisted of Nina Kielman, Marije Bader, Eline van Marle, Leanne Meurs, Daphne Smiggels, Joppe Schoute and Daan Hagelstein.
