: Abivax increases size of Nasdaq uplisting deal

Abivax S.A. FR:ABVX has increased the size of its global offering to 20.33 million shares from 18.68 million shares as part of its uplisting to the Nasdaq under the ticker symbol “ABVX” from Euronext Paris, according to a filing late Wednesday. Abivax plans to raise about $250 million with underwriters Morgan Stanley and Leerink at an estimated price range of $11.60 a share to $13 a share. The stock is expected to begin trading on Friday on the Nasdaq, according to IPOScoop.com. The deal will result in newly-listed stock on the Nasdaq, but it’s not technically an initial public offering. Abivax is a clinical stage biotechnology company with a drug, obefazimod, in Phase III trials to treat ulcerative colitis. The company is offering American depositary shares in the U.S. and selling additional shares through a private placement in Europe.

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