On May 3, 2017, Zymeworks Inc. completed its initial public offering (the Offering) of 4,500,000 common shares at an initial offering price of US$13.00 per share.
On May 31, 2017, Zymeworks completed the sale, pursuant to the partial exercise of an over-allotment option by the underwriters of the Offering, of an additional 394,467 common shares at a price of US$13.00 per share.
The aggregate gross proceeds to Zymeworks from the Offering were US$63,628,071.
The Offering was underwritten by a syndicate of underwriters with Citigroup Global Markets Canada Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC acting as joint book-running managers. Canaccord Genuity Corp. acted as lead manager. Cormark Securities Inc. acted as co-manager.
MTS Securities, LLC served as financial advisor to Zymeworks in the Offering.
A registration statement relating to the common shares was filed with the U.S. Securities and Exchange Commission and declared effective on April 27, 2017.
A final base PREP prospectus was filed with, and a receipt was issued by, the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada.
A supplemented PREP prospectus containing pricing information and other important information relating to the common shares was filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada.
The common shares are listed for trading on the New York Stock Exchange and the Toronto Stock Exchange.
Blake, Cassels & Graydon LLP acted as Canadian counsel to Zymeworks. The team from Blakes included Joseph Garcia, Chris Hewat, Jamie Kariya, Evan Straight and Andrea Lejay (securities), Bruce Sinclair, Kevin Zimka and Matthew Weaver (tax), and Joan Chambers and Lindsay Clark (corporate).
Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel to Zymeworks. The team from Skadden included Riccardo Leofanti, Colin Brown and Maia Bessemer (corporate and securities).
McCarthy Tétrault LLP acted as Canadian counsel to the underwriters. The team from McCarthy Tétrault included David Frost, Claire Sung and Ainslie Hurd (securities) and Chris Falk (tax).
Cooley LLP acted as US counsel to the underwriters. The team from Cooley included Charlie Kim, Dave Peinsipp, Drew Williamson, Kristin VanderPas, Denny Won and Phillip McGill (securities).