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;
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;
or Cantor Fitzgerald & Co., Attention: Capital Markets, 110
East 59th Street, 6th Floor, New York, NY 10022, or by email
at 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
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
For further
information please contact:
Malin
Fiona Dunlevy, Executive
Director/Company Secretary
Tel: +353 (0)1 901 5700
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
