VANCOUVER, British Columbia--(BUSINESS WIRE)--AbCellera (Nasdaq: ABCL) today announced that certain entities owned and/or controlled, directly or indirectly, by Carl Hansen, Ph.D., Cofounder, Chief Executive Officer, and President of AbCellera, and other senior leaders (collectively, the “Selling Shareholders”), have entered into separate share purchase agreements with experienced institutional investors (the “Buyers”), pursuant to which the Buyers purchased an aggregate 11,900,000 common shares (“Shares”). Proceeds from the sale were paid to the Selling Shareholders, and AbCellera did not receive any proceeds.
Dr. Hansen’s sale was in connection with estate planning, technology investing, and charitable giving. Following the sale and the allocation of shares for future charitable donations, Dr. Hansen remains AbCellera’s largest shareholder with 54,354,330 common shares, representing approximately a 20% equity interest on an undiluted basis. Dr. Hansen and other senior executives have not entered into 10b5-1 plans for any future sales of shares.
The Shares were sold by way of a private sale between individual Selling Shareholders and Buyers, who were already investors in AbCellera. The Selling Shareholders coordinated the private sale in response to inbound inquiries from the Buyers. Following the sale, the Selling Shareholders retain approximately 89% of their total equity holdings, which represent approximately 30% of AbCellera’s fully diluted shares. AbCellera filed a Registration Statement on Form S-1 on June 10, 2021 to register the Shares.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. AbCellera conducted its initial public offering in the United States and not in any Canadian jurisdiction.
About AbCellera Biologics Inc.
AbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce cost, and tackle the toughest problems in drug development. For more information, visit www.abcellera.com.
AbCellera Forward-looking Statements
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Source: AbCellera Biologics Inc.