Ablynx - Notice in Relation to the Convertible bonds due May 2020


Ablynx NV [Euronext Brussels: ABLX, NASDAQ: ABLX], a late-stage clinical biopharmaceutical company utilising its proprietary Nanobody® platform to develop treatments for a broad range of therapeutic indications with an unmet medical need, is giving this notice in relation to the €100,000,000 3.25% senior unsecured convertible bonds due on 27 May 2020 (ISIN: BE6278650344) issued by the Company (the "Bonds").

In accordance with Condition 5,(b),(vi) of the terms and conditions of the Bonds, the initial conversion price for the Bonds has been adjusted downwards, following the announcement by the Company on 25 October 2017 of the pricing of its initial U.S. public offering totaling approximately $200 million in gross proceeds from the sale of 11,430,000 ordinary shares in the form of American Depositary Shares ("ADS") at a public offering price of $17.50 per ADS, before underwriter discounts, and the granting by the Company to the underwriters of a 30-day option to purchase up to an additional 1,714,500 ordinary shares in the form of ADSs in connection with the offering.

As a consequence, the Calculation Agent has determined that the conversion price of the Bonds is to be adjusted from €12.93 to €12.6631 per ordinary share (after rounding in accordance with Condition 5, (f) the terms and conditions of the Bonds). The conversion price adjustment becomes effective on 27 October 2017.

Save as otherwise defined in this notice, words and expressions used herein have the meanings given to them in the terms and conditions of the Bonds (as modified and/or supplemented and/or amended from time to time).


Ablynx is a biopharmaceutical company engaged in the development of Nanobodies, proprietary therapeutic proteins based on single-domain antibody fragments, which combine the advantages of conventional antibody drugs with some of the features of small-molecule drugs. Ablynx is dedicated to creating new medicines which will make a real difference to society. Today, the Company has more than 45 proprietary and partnered programmes in development in various therapeutic areas including inflammation, haematology, immuno-oncology, oncology and respiratory disease. Ablynx has collaborations with multiple pharmaceutical companies including AbbVie; Boehringer Ingelheim; Eddingpharm; Merck & Co., Inc., Kenilworth, New Jersey, USA; Merck KGaA; Novartis; Novo Nordisk; Sanofi and Taisho Pharmaceuticals.



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