REG - Malin Corp PLC - CG Oncology Announces Pricing of Upsized IPO

MalinAnnouncement

25/01/2024 07:00

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RNS Number : 8973A  Malin Corporation PLC  25 January 2024

 

Malin Corporation plc

 

CG Oncology Announces Pricing of Upsized Initial Public Offering

 

·    CG Oncology raises approximately $380 million

·    Value of Malin's stake in CG Oncology acquired pre-IPO is
approximately €15 million

 

Dublin-Ireland, 25 January 2024: Malin Corporation plc. (Euronext Growth
Dublin:MLC) ("Malin", the "Company"), today notes that its investee company,
CG Oncology, Inc. (Nasdaq: CGON), has announced the pricing of its upsized
initial public offering of 20,000,000 shares of its common stock at an initial
public offering price of $19.00 per share. All of the shares are being offered
by CG Oncology. The gross proceeds from the offering, before deducting
underwriting discounts and commissions and other offering expenses, are
expected to be $380.0 million.

 

CG Oncology's common stock is expected to begin trading on the Nasdaq Global
Select Market today, 25 January 2024, under the ticker symbol "CGON." The
offering is expected to close on 29 January 2024, subject to the satisfaction
of customary closing conditions. In addition, CG Oncology has granted the
underwriters a 30-day option to purchase up to an additional 3,000,000 shares
of common stock at the initial public offering price, less underwriting
discounts and commissions.

 

Based on the public offering price, the value of Malin's stake in CG Oncology
is approximately €15 million, excluding any participation by Malin in the
IPO. The last disclosed fair value estimate of Malin's investment in CG
Oncology was €9.9 million at 4 September 2023. All of Malin's shares in CG
Oncology acquired pre-IPO are restricted from resale for a period of 180 days
under market standoff and lock‑up agreements.

 

Registration statements relating to the offering have been filed with the
Securities and Exchange Commission and became effective on 24 January 2024.
The offering is being made only by means of a prospectus. When available,
copies of the final prospectus may be obtained from Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, or by email at prospectus@morganstanley.com
(mailto:prospectus@morganstanley.com) ; Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, NY 10282, by
telephone at (866) 471-2526, or by email at Prospectus-ny@ny.email.gs.com
(mailto:Prospectus-ny@ny.email.gs.com) ; or Cantor Fitzgerald & Co.,
Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, NY
10022, or by email at prospectus@cantor.com (mailto:prospectus@cantor.com) .

 

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy these securities, nor shall there be any offer or sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or jurisdiction.

 

 

 

CG Oncology is a late-stage clinical biopharmaceutical company focused on
developing and commercializing a potential backbone bladder-sparing
therapeutic for patients afflicted with bladder cancer. CG Oncology sees a
world where urologic cancer patients may benefit from their innovative
immunotherapies to live with dignity and have an enhanced quality of life. For
more information visit: www.cgoncology.com (http://www.cgoncology.com)

 

 

ENDS
 

About Malin Corporation plc

Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative
life sciences companies. Its purpose is to create shareholder value through
the application of long-term capital and operational and strategic expertise
to a diverse range of global healthcare businesses. Malin has a focus on
innovative businesses underpinned by exceptional science and works with its
investee companies, providing strategic and financial support to enable them
to reach their value potential. Malin is headquartered and domiciled in
Ireland and listed on the Euronext Growth Dublin. For more information
visit www.malinplc.com (http://www.malinplc.com/)

 

For further information please contact:

Malin

Fiona Dunlevy, Executive Director/Company Secretary

Tel: +353 (0)1 901 5700

investorrelations@malinplc.com (mailto:investorrelations@malinplc.com)

 

Davy Corporate Finance (Euronext Growth Listing Sponsor & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

 

Liberum (Joint Broker)

Phil Walker / Ben Cryer

Tel: +44 (0) 20 3100 2000

 

Powerscourt (Media enquiries)

Eavan Gannon

Tel: +353 87 236 5973

malin@powerscourt-group.com (mailto:malin@powerscourt-group.com)

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