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5 November 20212 minute read

DLA Piper advises underwriters in MDxHealth SA’s IPO of American depository shares

DLA Piper represented Piper Sandler & Co. and Oppenheimer & Co. as lead book-running managers in the US$45 million initial public offering of MDxHealth SA (Nasdaq and Euronext Brussels: MDXH) in the United States. The offering consisted of 37,500,000 ordinary shares of MDxHealth in the form of 3,750,000 American depository shares (ADSs) at a price of US$12.00 per ADS.

Each ADS will represent ten ordinary shares of MDxHealth, a commercial-stage precision diagnostics company. In addition, MDxHealth has granted the underwriters an option exercisable for 30 days to purchase up to 562,500 additional ADSs.

“It was a pleasure to advise the underwriters on MdxHealth’s IPO, bringing together a strong cross-border team and our extensive capital markets capabilities to ensure a successful and efficient transaction,” said Michael D. Maline, who led the DLA Piper corporate team in the US.

In addition to Maline, the DLA Piper team representing the underwriters included associates Anna Spence, Bianca LaCaille, Michael Slovak and Michael Kumar in the US, as well as a Brussels corporate team led by Michael Heene and Kaat Vervenne.

DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.

DLA Piper advises on all aspects of the life sciences sector, combining subject matter experience with considerable knowledge of the scientific, medical, regulatory, commercial and enforcement environments facing biopharmaceutical, medical device, research and diagnostics clients. Recognizing that clients’ needs vary, the firm rapidly organizes and customizes client service teams, whether for a large pharmaceutical company, a mid-sized medical device client or a development-stage biotech company.