ONWARD Medical today announced the results of its initial public offering of 5,900,000 newly issued ordinary shares in its issued share capital, launched on 12 October 2021, with the admission to trading of all of its shares with a primary listing on Euronext in Brussels and a secondary listing on Euronext Amsterdam, under the symbol “ONWD”.

The final offer price for the offering has been set at EUR 12.75 per offer share, giving the company an initial market capitalization of approximately EUR 380 million, or approximately EUR 391.3 million assuming the exercise in full of the over-allotment option. Gross proceeds from the offering will amount to approximately EUR 75.2 million, or approximately EUR 86.5 million, assuming the exercise in full of the over-allotment option.

“This successful IPO is an exciting moment for ONWARD and the many underserved people recovering from spinal cord injury,” said Dave Marver, CEO of ONWARD. “Our team has worked closely with the world’s leading scientists and clinicians to identify and demonstrate the promise of several important breakthrough therapies. We appreciate and welcome the support of our new investors and will work with passion and commitment to build an outstanding and enduring company.”