The biotech firm plans to raise €75M through a global offering of ADSs and ordinary shares amid market conditions.
Nanobiotix (NBTX) disclosed plans to raise approximately $87M (€75M) via a follow-on offering, including American Depositary Shares (ADSs) in the U.S. and ordinary shares with pre-funded warrants for qualified investors. The move is subject to prevailing market conditions.
The company’s stock price fell following the announcement, reflecting investor reaction to the dilution risk. No prior offering of this scale was disclosed in recent quarters, though secondary offerings are common in biotech for funding clinical trials and operations.
Markets typically view follow-on offerings as bearish due to potential share dilution, though proceeds may support long-term growth.