NewAmsterdam Pharma Announces Commencement of Public Offering of Ordinary Shares and Pre-Funded Warrants
NAARDEN, The Netherlands and MIAMI, Feb. 13, 2024 - NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS; NewAmsterdam or the Company), a late-stage, clinical biopharmaceutical company, has made an exciting announcement today regarding the commencement of an underwritten public offering of the Company’s ordinary shares and pre-funded warrants. This move comes as the company focuses on developing oral, non-statin medicines for patients with elevated low-density lipoprotein cholesterol (LDL-C), who do not respond well to existing therapies or find them intolerable.
The public offering includes the sale of both ordinary shares, valued at 0.12 per share, and pre-funded warrants to purchase ordinary shares. The offering, subject to market and other conditions, will provide an opportunity for investors to support NewAmsterdam’s groundbreaking work in addressing the needs of patients at risk of cardiovascular disease. The company anticipates granting the underwriters a 30-day option to purchase additional shares, not exceeding 15% of the securities sold in the proposed offering.
NewAmsterdam’s focus on patients with elevated LDL-C, for whom existing therapies have proven to be ineffective or poorly tolerated, highlights the urgent need for alternative treatment options. Cardiovascular disease remains the leading cause of death globally, and finding new and more effective solutions is of paramount importance.
The proposed public offering underscores NewAmsterdam’s commitment to advancing its innovative pipeline of oral, non-statin medicines. By offering investors an opportunity to be part of this important work, the company aims to accelerate the development and commercialization of its potential life-changing therapies.
Commenting on the proposed offering, the CEO of NewAmsterdam, stated, We are excited to move forward with this underwritten public offering as it allows us to strengthen our financial position and support the continued development of our late-stage pipeline. With the significant unmet needs in the treatment of patients with elevated LDL-C, we believe that our unique approach holds great promise in providing effective options for these individuals.
The potential completion of this offering will depend on market conditions, among other factors. NewAmsterdam acknowledges that there can be no assurance regarding the size or terms of the proposed offering.
In conclusion, NewAmsterdam Pharma Company N.V.’s announcement of the commencement of a public offering of ordinary shares and pre-funded warrants signifies a significant moment for the company’s ongoing efforts to provide alternative treatments for patients at risk of cardiovascular disease with elevated LDL-C. By involving investors, the company aims to accelerate the development and commercialization of its potentially groundbreaking therapies, ultimately making a positive impact on the lives of many patients worldwide.
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