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Business Upturn
18 hours ago
- Business
- Business Upturn
Abivax Announces Closing of $747.5 Million Public Offering
Abivax Announces Closing of $747.5 Million Public Offering PARIS, France, July 28, 2025 – 10:15 p.m. (CEST) – Abivax SA (Euronext Paris: FR0012333284 – ABVX) ('Abivax' or the 'Company'), a clinical-stage biotechnology company focused on developing therapeutics that harness the body's natural regulatory mechanisms to modulate the immune response in patients with chronic inflammatory diseases, today announces the closing of its previously announced underwritten public offering of 11,679,400 American Depositary Shares ('ADSs'), each representing one ordinary share, €0.01 nominal value per share (each an 'Ordinary Share'), of the Company, in the United States (the 'Offering'), which includes the full exercise of the underwriters' option to purchase additional ADSs (the 'Underwriters' Option'). The aggregate gross proceeds, after exercise of the Underwriters' Option, amounted to approximately $747.5 million, equivalent to approximately €637.5 million1, before deduction of underwriting commissions and estimated expenses payable by the Company, and the estimated net proceeds, after deducting underwriting commissions and estimated offering expenses payable by the Company, will be approximately $700.3 million, equivalent to approximately €597.2 million1. All of the ADSs in the Offering were offered by Abivax. The Company believes that the net proceeds from the Offering, together with its current cash and cash equivalents, will allow it to finance its operations into the fourth quarter of 2027, allowing it to reach 12 months of expected cash runway following the planned NDA submission for Ulcerative Colitis, assuming positive results from its Phase 3 maintenance trial. Abivax's Ordinary Shares are listed on the regulated market of Euronext Paris under the symbol 'ABVX' and its ADSs are listed on the Nasdaq Global Market under the symbol 'ABVX'. Leerink Partners, Piper Sandler & Co. and Guggenheim Securities acted as joint bookrunning managers for the Offering. LifeSci Capital acted as lead manager, with BTIG and Van Lanschot Kempen acting as co-managers for the Offering. An automatic shelf registration statement on Form F-3 (including a prospectus) relating to the Company's securities was filed with the Securities and Exchange Commission (the 'SEC') on July 23, 2025 and became effective upon filing. The Company has also filed with the SEC a final prospectus supplement (and accompanying prospectus) relating to and describing the terms of the Offering (the 'Final Prospectus Supplement'). These documents may be obtained free of charge by visiting EDGAR on the SEC's website at Alternatively, a copy of the Final Prospectus Supplement (and accompanying prospectus) may be obtained from Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; or from Piper Sandler & Co., 350 North 5th Street, Suite 1300, Minneapolis, MN 55402, Attention: Prospectus Department, by telephone at 800-747-3924 or by email at [email protected]; or from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544 or by email at [email protected]. ***** About Abivax Abivax is a clinical-stage biotechnology company focused on developing therapeutics that harness the body's natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases. Based in France and the United States, Abivax's lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis. Contacts: Abivax Investor RelationsPatrick Malloy [email protected] +1 847 987 4878 ***** Forward-Looking Statements This press release contains forward-looking statements, forecasts and estimates, including those relating to the Company's business and financial objectives. Words such as 'design,' 'intend,' 'expect,' 'forward,' 'future,' 'can,' 'could,' 'may,' 'might,' 'potential,' 'plan,' 'project,' 'should,' 'will' and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements regarding the anticipated use of net proceeds from the Offering, the period of time through which the Company anticipates its financial resources will be adequate to support its operations, timing of planned NDA submission, as well as statements concerning or implying the therapeutic potential of Abivax's drug candidates, clinical development plans, business and regulatory strategy, and anticipated future performance and other statements that are not historical fact. Although Abivax's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the AMF pursuant to its legal obligations, including its universal registration document ( Document d'Enregistrement Universel ), and in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on March 24, 2025 under the caption 'Risk Factors.' These risks, contingencies and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug candidate, as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates and the availability of funding sufficient for the Company's foreseeable and unforeseeable operating expenses and capital expenditure requirements. Special consideration should be given to the potential hurdles of clinical and pharmaceutical development including further assessment by the Company and regulatory agencies and IRBs/ethics committees following the assessment of preclinical, pharmacokinetic, carcinogenicity, toxicity, CMC and clinical data. Furthermore, these forward-looking statements, forecasts and estimates are made only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) that is included in this press release is not intended to constitute an advertisement. This press release does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgment. All opinions expressed herein are subject to change without notice. Disclaimers This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of such securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The distribution of this press release may be subject to legal or regulatory restrictions in certain jurisdictions. Any person who comes into possession of this press release must inform him or herself of and comply with any such restrictions. This announcement is not a prospectus within the meaning of the Prospectus Regulation. In relation to each member state of the European Economic Area (each, a 'Relevant Member State'), an offer of the securities referred to herein is not being made and will not be made to the public in that Relevant Member State, other than (i) to any legal entity which is a qualified investor as defined in the Prospectus Regulation, (ii) to fewer than 150 natural or legal persons per Relevant Member State; or (iii) in any other circumstances falling within Article 1(4) of the Prospectus Regulation; provided that no such offer of the securities referred to herein shall require the Company to publish a prospectus pursuant to Article 3 of the Prospectus Regulation. For the purposes of the above, the expression an 'offer to the public' in any Relevant Member State shall have the meaning ascribed to it in Article 2(d) of the Prospectus Regulation. This communication is being distributed only to, and is directed only at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order'), and (c) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as 'relevant persons'). Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents. Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the securities offered in the Offering has led to the conclusion in relation to the type of clients criteria only that: (i) the type of clients to whom the securities are targeted is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU, as amended ('MiFID II'); and (ii) all channels for distribution of the securities offered in the Offering to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Ordinary Shares (a 'distributor') should take into consideration the manufacturers' type of clients assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Ordinary Shares offered in the Offering (by either adopting or refining the manufacturers' type of clients assessment) and determining appropriate distribution channels. This press release has been prepared in both French and English. In the event of any discrepancies between the two versions of the press release, the French language version shall prevail. 1 Based on an exchange rate of €1.00 = $1.1726 as published by the European Central Bank on July 23, 2025. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
4 days ago
- Business
- Yahoo
Nasdaq Announces Mid-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date July 15, 2025
NEW YORK, July 25, 2025 (GLOBE NEWSWIRE) -- At the end of the settlement date of July 15, 2025, short interest in 3,260 Nasdaq Global MarketSM securities totaled 13,792,841,090 shares compared with 14,138,758,851 shares in 3,257 Global Market issues reported for the prior settlement date of June 30, 2025. The mid-July short interest represents 2.37 days compared with 2.59 days for the prior reporting period. Short interest in 1,647 securities on The Nasdaq Capital MarketSM totaled 2,853,251,720 shares at the end of the settlement date of July 15, 2025, compared with 2,790,159,938 shares in 1,636 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period's figure was 1.00. In summary, short interest in all 4,907 Nasdaq® securities totaled 16,646,092,810 shares at the July 15, 2025 settlement date, compared with 4,893 issues and 16,928,918,789 shares at the end of the previous reporting period. This is 1.84 days average daily volume, compared with an average of 1.72 days for the prior reporting period. The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller. For more information on Nasdaq Short interest positions, including publication dates, visithttp:// Nasdaq:Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at NDAQO Media Contact: Maximilian A photo accompanying this announcement is available at


Business Upturn
18-07-2025
- Business
- Business Upturn
Indigo Acquisition Corp. Announces Separate Trading of its Ordinary Shares and Rights
By GlobeNewswire Published on July 18, 2025, 16:30 IST NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) — Indigo Acquisition Corp. (NASDAQ: INACU) (the 'Company') announced today that, commencing on or about July 30, 2025, holders of its units sold in the Company's initial public offering may elect to separately trade the Company's ordinary shares and rights included in the units. The ordinary shares and rights that are separated will trade on the Nasdaq Global Market ('Nasdaq') under the symbols 'INAC' and 'INACR,' respectively. No fractional rights will be issued upon separation of the units and only whole rights will trade. Those units not separated will continue to trade on Nasdaq under the symbol 'INACU.' Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into ordinary shares and rights. The Company is a Cayman exempt company, formed as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to focus on opportunities with established, profitable companies with attractive market positions and/or growth potential that can leverage our management team's experience and expertise. The Company is led by its Chairman of the Board and Chief Executive Officer, James S. Cassel, and its Chief Operating Officer and Chief Financial Officer, Scott Salpeter. FORWARD-LOOKING STATEMENTS This press release contains statements that constitute 'forward-looking statements.' Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's final prospectus relating to the Company's initial public offering filed with the SEC on July 1, 2025. Copies are available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact: James S. Cassel, CEO [email protected] 305-438-7700 Scott Salpeter, CFO [email protected] 305-438-7700 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.

Economic Times
14-07-2025
- Business
- Economic Times
NSE ranks fourth in global IPO table with $5.51 billion fundraising: S&P
The National Stock Exchange of India (NSE) ranked fourth globally in initial public offering (IPO) fundraising during the first half of 2025, raising $5.51 billion, according to S&P Global Market Intelligence. The NSE came in behind the Nasdaq Global Market, NYSE and the Nasdaq Global Select Market, accounting for 8.9% of worldwide IPO proceeds during the period. ADVERTISEMENT Despite a slower start compared to the same period last year, Indian markets saw 119 IPOs in the first six months of 2025, raising a total of Rs 51,150 crore, S&P data showed. This compares with Rs 37,682 crore raised from 157 listings in the first half of 2024. Indian exchanges closed 2024 with Rs 1.71 lakh crore raised across 333 IPOs, buoyed by landmark deals such as Hyundai Motor India's $3.3 billion share sale. The S&P report suggested that while the primary market started 2025 on a slower note, amid global and domestic equity volatility, a rebound is underway. The report said that EY analysts see a strong pipeline of IPOs likely to hit the market over the next three to six year's largest deal so far came from HDB Financial Services, a subsidiary of HDFC Bank, which raised Rs 12,500 crore in June. Among the top ten IPOs by size, three originated from consumer discretionary companies and two from financial high-profile filings are in the pipeline, including Credila Financial Services Ltd's Rs 5,000 crore draft prospectus filed with Securities and Exchange Board of India (Sebi) in late June, and Anthem Biosciences' submission in early July. ADVERTISEMENT Other companies such as Oravel Stays, Fabindia Ltd, and Hero FinCorp, which had delayed listings in prior years, may revive their plans depending on market conditions.S&P said that if macroeconomic stability holds, IPO activity is expected to accelerate in the second half of 2025. Investor appetite remains firm, especially for reasonably valued and fundamentally strong companies. ADVERTISEMENT India's broader economic momentum is also supporting capital markets. The Reserve Bank of India expects the economy, currently valued just under $4 trillion, to grow at 6.5% in FY26, in line with the previous fiscal year. A total of 100 basis points in rate cuts since February, including a surprise 50-bps reduction in June, is expected to boost liquidity and lending benchmark Nifty 50 index has rebounded strongly, closing at 25,082.30 on July 14, a 5.6% gain so far this year. S&P noted that this recovery, along with rising retail investor participation, is contributing to renewed enthusiasm in the primary market. ADVERTISEMENT The report also pointed to strong listing potential in sectors such as financial technology, AI-driven firms, and industrial tech, with the broader macroeconomic setup favouring renewed a dynamic stock market, supportive monetary policy, and an improving global backdrop, India's IPO environment appears poised for a more robust second half, with the NSE continuing to establish itself as a major global listing venue. ADVERTISEMENT Also read | NSE, NSDL shares slide up to 21% from peaks. What's behind the selling pressure in unlisted market? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)


Time of India
14-07-2025
- Business
- Time of India
NSE ranks fourth in global IPO table with $5.51 billion fundraising: S&P
The National Stock Exchange of India (NSE) ranked fourth globally in initial public offering (IPO) fundraising during the first half of 2025, raising $5.51 billion, according to S&P Global Market Intelligence. The NSE came in behind the Nasdaq Global Market, NYSE and the Nasdaq Global Select Market, accounting for 8.9% of worldwide IPO proceeds during the period. Despite a slower start compared to the same period last year, Indian markets saw 119 IPOs in the first six months of 2025, raising a total of Rs 51,150 crore, S&P data showed. This compares with Rs 37,682 crore raised from 157 listings in the first half of 2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brain tumor has left my son feeling miserable; please help! Donate For Health Donate Now Undo Indian exchanges closed 2024 with Rs 1.71 lakh crore raised across 333 IPOs, buoyed by landmark deals such as Hyundai Motor India's $3.3 billion share sale. The S&P report suggested that while the primary market started 2025 on a slower note, amid global and domestic equity volatility , a rebound is underway. The report said that EY analysts see a strong pipeline of IPOs likely to hit the market over the next three to six months. Big-ticket deals and upcoming listings The year's largest deal so far came from HDB Financial Services, a subsidiary of HDFC Bank , which raised Rs 12,500 crore in June. Among the top ten IPOs by size, three originated from consumer discretionary companies and two from financial services. Live Events Several high-profile filings are in the pipeline, including Credila Financial Services Ltd's Rs 5,000 crore draft prospectus filed with Securities and Exchange Board of India (Sebi) in late June, and Anthem Biosciences' submission in early July. Other companies such as Oravel Stays, Fabindia Ltd, and Hero FinCorp, which had delayed listings in prior years, may revive their plans depending on market conditions. S&P said that if macroeconomic stability holds, IPO activity is expected to accelerate in the second half of 2025. Investor appetite remains firm, especially for reasonably valued and fundamentally strong companies. India's broader economic momentum is also supporting capital markets. The Reserve Bank of India expects the economy , currently valued just under $4 trillion, to grow at 6.5% in FY26, in line with the previous fiscal year. A total of 100 basis points in rate cuts since February, including a surprise 50-bps reduction in June, is expected to boost liquidity and lending conditions. Markets and sectoral tailwinds India's benchmark Nifty 50 index has rebounded strongly, closing at 25,082.30 on July 14, a 5.6% gain so far this year. S&P noted that this recovery, along with rising retail investor participation, is contributing to renewed enthusiasm in the primary market. The report also pointed to strong listing potential in sectors such as financial technology, AI-driven firms, and industrial tech, with the broader macroeconomic setup favouring renewed issuance. With a dynamic stock market, supportive monetary policy, and an improving global backdrop, India's IPO environment appears poised for a more robust second half, with the NSE continuing to establish itself as a major global listing venue. Also read | NSE, NSDL shares slide up to 21% from peaks. What's behind the selling pressure in unlisted market?