Germany Based Evotec Sets Terms For $576M US IPO - Evotec (OTC:EVOTF)

German biotech Evotec SE EVTCY plans to raise $576 million by offering 22 million ADSs at $26.16. At the proposed price, Evotec would command a market value of $9.2 billion.
See the SEC offer prospectus here.
The Company plans to list on the NASDAQ under the symbol EVO.
Evotec plans to use $100 million from the IPO proceeds to expand a biologics manufacturing facility in Redmond, Washington, $175 million for building additional capacity in France, $115 million for solo R&D, $80 million for equity investments, and the list goes on.
The Company works as a drug discovery, and development partner to the pharmaceutical and biotechnology industry focused on discovering drug candidates in a wide range of difficult-to-treat diseases.
It generates income by charging fees for its services, collecting milestones & royalties, and equity ownership in biotechs.
Evotec states that its pipeline has over 130 assets.
Most recently: Bristol Myers Exercises Option In-License Evotec's Neurodegenerative Candidate.
Price Action: EVTCY shares are down 2.91% at $24 during the market session on the last check Wednesday.