On June 24, 2019, Zymeworks Inc. (“Zymeworks” or the “Company”) closed its underwritten public offering (the “Offering”) of 7,013,892 common shares, including the exercise in full of the underwriters’ overallotment option to purchase 1,458,336 additional shares, and, in lieu of common shares, to a certain investor, pre-funded warrants to purchase up to 4,166,690 common shares. The common shares were offered at a price to the public of US$18 per common share and the pre-funded warrants were offered at a price of US$17.9999 per pre-funded warrant, for aggregate gross proceeds to the Company of approximately US$201.3 million, before deducting underwriting discounts and commissions and estimated Offering expenses.
J.P. Morgan Securities LLC acted as active book-running manager for the Offering. Wells Fargo Securities, LLC and Stifel, Nicolaus & Company, Incorporated acted as passive book-running managers, Raymond James Ltd. acted as co-lead manager and Ladenburg Thalmann & Co. Inc. acted as co-manager.
Daniel Dex (Senior Director, Legal) and Catherine Graham (Director, Legal) acted as Canadian internal counsel for Zymeworks. Blake Cassels & Graydon LLP acted as Canadian external counsel for Zymeworks, with a team led by Joseph Garcia that included Jamie Kariya, Kevin Zimka, Daniel Cherniak and Kristen Ball.
Zymeworks’ U.S. counsel was Skadden Arps Slate Meagher & Flom LLP, with a team consisting of Riccardo A. Leofanti, Maia C. Bessemer, Misola Ijidakinro and Thomas Daechsel (Capital Markets); Eric Sensenbrenner, Rob Stevenson and Jeff Romero (Tax); Oren Epstein and Christine McLellan (IP); and Avia Dunn (Regulator y).
The underwriters were represented in the U.S. by Cooley LLP, with a securities team that included Charlie Kim, David Peinsipp, Kristin VanderPas, Denny Won, Alex Davis and Zackory Burns; and in Canada by McCarthy Tétrault LLP, with a team that included David Frost, Bosa Kosoric, Erin O’Callaghan and Christopher Falk.