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Seattle Genetics public offering nets $659mm to fund Cascadian purchase

Executive Summary

Seattle Genetics Inc. (targeted antibody-based cancer therapies) netted $659mm through a public offering of 13.27mm common shares (including the overallotment) at $52. Proceeds will fund the firm's acquisition of Cascadian Therapeutics; on the same day it announced the FOPO, Seattle Genetics offered $10 per share or approximately $614mm to purchase the oncology drug development company.
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • FOPO

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