On July 12, 2023 Bicycle Therapeutics plc (Nasdaq: BCYC), a biotechnology company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle) technology, reported the pricing of an underwritten public offering of 9,411,766 American Depositary Shares ("ADSs"), each representing one ordinary share and, in lieu of ADSs to investors that so choose, non-voting ordinary shares, each at a price to the public of $21.25 per share, for gross proceeds of approximately $200.0 million (Press release, Bicycle Therapeutics, JUL 12, 2023, View Source [SID1234633195]). In addition, Bicycle has granted the underwriters in the offering a 30-day option to purchase up to 1,411,764 additional ADSs at the public offering price. The offering is expected to close on or about July 17, 2023, subject to customary closing conditions.

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Bicycle plans to use the net proceeds from the offering to fund the continued development of its proprietary pipeline and for other research and development, as well as for general corporate purposes.

Goldman Sachs & Co. LLC, Jefferies and Leerink Partners are acting as joint book-running managers for the offering.

The offering is being made pursuant to a "shelf" registration statement on Form S-3ASR that was filed by Bicycle with the Securities and Exchange Commission ("SEC") and automatically became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement, final prospectus supplement and accompanying prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, or by email at [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, or by email at [email protected]; or SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected].

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.