Abivax resets conversion, exchange ratio of Oceanes due in 2026

By Wendy Van Sickle

Columbus, Ohio, Aug. 2 – Abivax SA reset the conversion and exchange ratio of its Oceane bonds due in 2026 (ISIN: FR0014004PT4), according to a news release.

The conversion/exchange ratio was adjusted to 1.429 from 1.176, effective as of July 30, for the €24,999,975.99 of outstanding bonds. This corresponds to a decrease in the implied conversion/exchange price to €26.72 per share from €32.47 per share.

The number of shares underlying the Oceanes resultantly increased to 935,453 from 769,834.

Paris-based Abivax is a Phase 3 clinical stage biotechnology company focused on developing therapeutics that modulate the immune system to treat patients with chronic inflammatory diseases.

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