Bicycle Therapeutics raises ~$555M in private placement of 25.9M ADSs at $21.42; cash runway into H2 2027

BICYCLE THERAPEUTICS PLC

Sold 25,933,706 ADSs (and non-voting ordinary shares in lieu) at $21.42/share for gross proceeds of ~$555M.
Closing expected May 28, 2024; proceeds will boost cash to ~$1.0B, extending runway into second half of 2027.
Offering conducted as private placement under Section 4(a)(2) and Rule 506 of Regulation D.
Company to file a resale registration statement within 30 calendar days after closing or 15 business days if Form S-3ASR is effective.

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