Offering, over-allotment and listing
The adjusted offering comprises up to € 20 million in newly issued shares and up to 82,562 newly issued shares through the exercise of warrants. In relation to the offering, Galapagos has granted an over-allotment option to the lead managers to purchase up to an additional € 3 million in newly issued shares. Therefore the maximum number of the shares that will be issued is 3,368,276, including the over-allotment option. The shares will be placed through a public offering in both Belgium and the Netherlands in combination with an international private placement. Application for listing has been made on the Eurolist by Euronext Brussels and Euronext Amsterdam. Listing is expected on Friday May 6, 2005.
Subscription period and pricing
The subscription period for the shares has been extended until Wednesday May 4, 2005, 16.00 hours CET. The price for the shares is expected to be between € 7 and € 8. Subscriptions that have already been made will remain valid and investors may enter new subscriptions through their banks and/or revise their current subscriptions. The definitive price and the number of shares placed with investors will be determined and announced following the closing of the subscription period.
“Institutional and retail clients have shown broad interest in our floatation,” said Onno van de Stolpe, CEO of Galapagos. “This underlines that we have been able to convince investors of the strength of our message and our company. However, the IPO climate is currently difficult. We therefore believe that it is in the interest of all parties concerned to adjust the size of the capital increase and the price range. After these adjustments, the book is now strongly oversubscribed and we expect to place the shares successfully. Euronext regulations require us to extend the subscription period with another three days.”
Prospectus
The prospectus provides more information on Galapagos, the offer, and the risks with regard to investing in the shares of Galapagos. The announcement of the adjusted offering, in the Official List of Euronext Amsterdam d.d. May 2, 2005, and in one or more national newspapers in Belgium and the Netherlands, is part of the prospectus. The prospectus is available at Galapagos (Generaal De Wittelaan L11/A3, B-2800 Mechelen, Belgium, tel: +32 15 342 900), Galapagos Genomics BV (Archimedesweg 4, 2301 CA Leiden, The Netherlands, tel: +31 71 524 8800), KBC Securities (Havenlaan 12, 1080 Brussel, Belgium), Kempen & Co (Beethovenstraat 300, 1077 WZ, Amsterdam, The Netherlands, tel: +31 20 348 8500) and at the counters of all KBC Bank branches in Belgium. The electronic version of the prospectus is available at the company website of Galapagos, www.glpg.com, at the website of Euronext, www.euronext.com and at www.kbcsecurities.be.