Galapagos raises $300 million gross proceeds in a U.S. public offering


Galapagos NV (Euronext & NASDAQ: GLPG) announced today the pricing of its U.S. public offering totaling $300 million gross proceeds of 2,575,107 new ordinary shares in the form of American Depositary Shares ("ADSs") at $116.50 per ADS, before underwriting discounts.

In addition, Galapagos has granted the underwriters an option to purchase up to an additional 386,266 ADSs, representing 15% of the ADSs placed in the offering. This option can be exercised during the 30 day period commencing 12 September 2018.

The closing of the offering is expected to occur on 17 September 2018, subject to customary closing conditions.
Each of the ADSs offered in the offering represents the right to receive one ordinary share.

Galapagos' ADSs are currently listed on the Nasdaq Global Select Market under the symbol "GLPG" and Galapagos' ordinary shares are currently listed on Euronext Amsterdam and Euronext Brussels.

Morgan Stanley and Citigroup are acting as joint book-running managers for the proposed offering. Kempen & Co., Nomura, and Stifel are acting as co-managers for the proposed offering.

The securities are being offered pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on 12 September 2018. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website. When available, copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, Attention: Prospectus Department or from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, United States, or by telephone at +1 800 831-9146.

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


Galapagos (Euronext & NASDAQ: GLPG) is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action. Galapagos' pipeline comprises Phase 3 through to discovery programs in cystic fibrosis, inflammation, fibrosis, osteoarthritis and other indications. Our target discovery platform has delivered three novel mechanisms showing promising patient results in, respectively, inflammatory diseases, idiopathic pulmonary fibrosis and atopic dermatitis. Galapagos is focused on the development and commercialization of novel medicines that will improve people's lives. The Galapagos group, including fee-for-service subsidiary Fidelta, has approximately 675 employees, operating from its Mechelen, Belgium headquarters and facilities in the Netherlands, France, Switzerland, the US and Croatia.



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