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- Immediate Dilution of $110.78 Per Ads (new) — New investors pay $125.00 per ADS but receive only $14.22 in net tangible book value, a dilution of $110.78 per ADS.
- Only 1,182,661 Shares Subject to Lock-up (new) — The vast majority of outstanding shares are not subject to lock-up restrictions, creating potential for significant selling pressure shortly after the offering.
Abivax prices $800M ADS offering at $125.00 per ADS to fund obefazimod commercialization
Filed July 2, 2026 · ~2 min read
Key Changes
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Abivax is selling 6.4 million ADSs at $125.00 each, raising approximately $759.8 million net after fees, with an underwriter option for 960,000 more ADSs.
The Offering verify on EDGAR → -
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Proceeds will fund U.S. commercialization of obefazimod, clinical R&D for ulcerative colitis and Crohn's disease, and general corporate purposes; cash runway extends into Q2 2029.
Use of Proceeds verify on EDGAR → -
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New investors face immediate dilution of $110.78 per ADS, as pro forma net tangible book value is only $14.22 per ADS after the offering.
Dilution verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 2, 2026 · How we verify