(RTTNews) - Ascendis Pharma A/S (ASND) said that it has priced its underwritten public offering of 2 million American Depositary Shares or "ADSs" at $150.00 per ADS. Each ADS represents one ordinary share of Ascendis.

The offering is expected to close on or about September 23, 2024. In addition, Ascendis has granted the underwriters a 30-day option to purchase up to an additional 300,000 ADSs at the public offering price, less the underwriting commissions.

Ascendis estimates the net proceeds from the offering will be approximately $281.3 million (assuming no exercise of the underwriters' option to purchase additional ADSs), after deducting the underwriting commissions and estimated offering expenses.

The company plans to use the net proceeds of the offering to support the commercial preparations, launch and commercial activities, clinical development and regulatory approvals for its products and product candidates, and for working capital and general corporate purposes.

J.P. Morgan, Morgan Stanley, Evercore ISI and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. BofA Securities, Wells Fargo Securities and Citigroup are acting as lead managers for the offering and Oppenheimer & Co. is acting as co-manager for the offering.