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News Jul 22, 2016

Shearman & Sterling Advises the Banks on GenSight Biologics' IPO on Euronext Paris

Shearman & Sterling advised Oddo & Cie and Gilbert Dupont on the successful initial public offering of GenSight Biologics on compartment C of the Euronext regulated market in Paris. This raised €40 million by means of a capital increase, which may be increased to c. €45.9 million if an over-allotment option is fully exercised.

Oddo & Cie was acting as Global Coordinator and Joint Bookrunner, and Gilbert Dupont was acting as Joint Bookrunner. On 14 July 2016 5 million new shares were issued through an open price offering to retail investors in France and a global placement primarily to institutional investors in France and other countries (including the United States). The price of the open price offer and the global placement was set at €8 per share.

GenSight Biologics has granted Oddo & Cie an over-allotment option that can be exercised from 12 July until 11 August 2016 inclusive, for up to a maximum of 737,937 additional new shares, equal to approximately €5.9 million.

GenSight Biologics is a biotechnology company discovering and developing novel gene therapies for neurodegenerative retinal diseases and diseases of the central nervous system The IPO is intended to provide GenSight Biologics with additional financial resources required to fund its activities and pursue the development of its technology platforms and product candidates.

The Shearman & Sterling team was led by Hervé Letréguilly (Partner, Paris) and Lisa L. Jacobs (Partner, New-York) and included: Robert Treuhold (Of Counsel, New-York); Séverine de La Courtie (Counsel, Paris); Amandine Souin (Associate, Paris); and Robert Giannattasio (Associate, New-York).