Bicycle Therapeutics (BCYC) Up as PIPE Funding Set to Make $555M

Bicycle Therapeutics (BCYC) shares rallied 9.6% in the last trading session on May 23 after the company announced entering into a funding agreement with multiple institutional investors, new and existing, to issue and sell an aggregate of 25,933,706 American Depositary Shares (ADS) at $21.42 per share. Such impending transaction will be accomplished via a private investment in public equity (PIPE) financing.Please note that one ADS of Bicycle Therapeutics represents one ordinary share of the company.The com ...