Mont-Saint-Guibert, Belgium – Celyad Oncology SA (Euronext & Nasdaq: CYAD), a clinical-stage biotechnology company focused on the discovery and development of chimeric antigen receptor T cell (CAR T) therapies for cancer, today announced that it has entered into an Open Market Sale AgreementSM with Jefferies LLC (“Jefferies”) pursuant to which the Company may from time to time sell, for a period of up to 36 months, through “an at the market offering” (“ATM”), with Jefferies acting as sales agent, up to $25,000,000 of new American Depositary Shares (“ADSs”), each of which represents one ordinary share of the Company, assuming sales of 2,522,704 ADSs in the offering at an offering price of $9.91 per ADS, which was the last reported sale price of the ADSs on the Nasdaq Global Market on September 8, 2020 . The actual number of ADSs issued will vary depending on the sales prices under this offering, however the number of ordinary shares shall not exceed 2,777,777 shares. The new ADSs will be sold at then current market prices. Sales of ADSs in the ATM will only be conducted in the United States through the Nasdaq Stock Market or any other existing U.S. trading market for the ADSs. No sales of ADSs will be conducted in Belgium or through Euronext.
Celyad Oncology currently intends to use net proceeds from sales of ADSs in the ATM for general corporate purposes, including but not limited to the research and development of Company’s clinical and preclinical CAR T cell therapy candidates.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such jurisdiction.
The securities are being offered pursuant to a shelf registration statement on Form F-3 (333-248464), which was declared effective by the Securities and Exchange Commission (the “SEC”) on September 4, 2020. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A prospectus supplement relating to the offering was filed by Celyad Oncology with the SEC on September 11, 2020 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained for free by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-547-6340 or by email at Prospectus_Department@Jefferies.com.
