Why Nanobiotix (NBTX) Stock Is Plunging Thursday

Nanobiotix SA - ADR NBTX shares are trading lower by 16.4% to $5.14 Thursday morning after the company priced its global follow-on offering. The offering includes 3,106,907 ADSs in the U.S. at $5.36 per ADS and 2,492,223 Ordinary Shares in Europe at €5.07 per share.

The pricing is based on the recent trading session average minus a 15% discount, in line with company resolutions.

What Else?

Johnson & Johnson Innovation's JJDC is obligated to subscribe for $25.0 million in Ordinary Shares through a Concurrent Private Placement, with an initial subscription of 3,670,294 restricted ADSs.

The total expected proceeds are approximately $55 million (€51.5 million), before deductions.

The offering is managed by global coordinators Jefferies LLC, Leerink Partners and Guggenheim.

According to data from Benzinga Pro, Nanobiotix has a 52-week high of $11.00 and a 52-week low of $1.75.