Sanofi receives €0.8 million of Ablynx convertibles in squeeze out

New York, June 19 – Sanofi, SA received tenders for a further €0.8 million of the convertible bonds of Ablynx NV during the squeeze out period, according to a news release.

The squeeze out ended on June 12, and settlement took place on Tuesday.

Ablynx’s remaining convertibles have been transferred to Sanofi following the closing of the acquisition of Ablynx.

Funds to pay the purchase price for the convertibles have been transferred to the Bank for Official Deposits and holders may contact the bank to receive the purchase price of €393,700.78 per €100,000 bond.

The convertibles were delisted from the Frankfurt MTF on June 13.

Sanofi previously said it received tenders for €97.5 million of the convertibles.

It also received tenders for 71,972,994 of Ablynx’s shares, including 7,446,312 shares represented by American Depositary Shares, and 2,594,841 warrants.

The purchase price for the shares and American Depositary Shares was €45.00 and for the warrants €18.66 to €41.79.

Ablynx priced €100 million of the convertibles at par in May 2015.

Sanofi is a Paris-based biopharmaceutical company. Ablynx is a Ghent, Belgium, biopharmaceutical company.

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