Covington Represents Underwriters in Upsized $175 Million Follow-On Offering of Bicycle Therapeutics

Covington Represents Underwriters in Upsized $175 Million Follow-On Offering of Bicycle Therapeutics

October 15, 2021

NEW YORK—Covington advised the underwriters in the upsized $175 million follow-on offering of American Depositary Shares of Bicycle Therapeutics plc. Inclusive of the underwriters’ full exercise of their option to purchase additional ADSs, the offering generated gross proceeds of $201 million. Bicycle Therapeutics is listed on the Nasdaq Global Select Market under the ticker symbol "BCYC."

Bicycle is a clinical-stage biopharmaceutical company developing a novel class of medicines, which it refers to as Bicycles, for diseases that are underserved by existing therapeutics.

The Covington capital markets team included Brian K. Rosenzweig, Lilit Kazangyan, Jenna Fontenot, and Erica Wu.