Galapagos Receives Transparency Notification and 13D Filing from Tang Capital
Mechelen, Belgium; February 17, 2025, 22:01 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) has officially acknowledged a transparency notification and a Schedule 13D filing submitted by Tang Capital.
According to Belgian transparency laws, Galapagos obtained the notification on February 14, 2025, from Mr. Kevin Tang, representing Tang Capital Management, LLC ("TCM"), along with other entities: Tang Capital Partners, LP ("TCP"), Tang Capital Partners International, LP ("TCPI"), and Tang Capital Partners III, Inc. ("TCP III"). The notification indicates that TCP and TCPI collectively own 887,227 ordinary shares. Additionally, TCP, TCPI, and TCP III possess a total of 2,436,180 American Depository Receipts ("ADRs"), where each ADR corresponds to one ordinary share. Together, these holdings account for 3,323,407 of Galapagos' voting rights, which is equivalent to 5.04% of the company’s total outstanding shares of 65,897,071. This acquisition allowed Tang Capital to surpass the 5% threshold of Galapagos' voting rights on February 7, 2025.
The notification includes crucial details:
(i) Mr. Tang serves as the manager of TCM and the CEO of both TCP III and Tang Capital Partners IV, Inc. ("TCP IV"). TCM acts as the general partner for both TCP and TCPI. Mr. Tang shares voting and decision-making authority for these shares with the mentioned entities.
(ii) TCM, TCP, TCPI, and TCP III have the freedom to execute the voting rights without needing specific instructions from each other.
Furthermore, TCM submitted a Schedule 13D filing to the SEC on February 14, 2025. This filing disclosed that TCM holds beneficial ownership of 4,910,525 voting rights in Galapagos, which includes 966,119 ordinary shares and 2,544,406 ADRs. Moreover, it includes 1,400,000 ADRs that grant the right to acquire shares under call option contracts set to expire on February 21, 2025, bringing the total ownership to approximately 7.5% of the outstanding shares of 65,897,071. The filing also highlights potential obligations, indicating that they may be required to purchase 1,043,500 shares due to put options that expire on the same date, and they might also need to sell 200,000 shares in accordance with call option contracts expiring on April 17, 2025.
The complete transparency notification and the Schedule 13D filing are available for review on the Galapagos website.
About Galapagos
Galapagos is a biotechnology company that operates in both Europe and the United States. The firm is committed to improving patient outcomes through innovative scientific research and solutions. By focusing on areas of significant unmet medical needs, Galapagos is building a strong portfolio of advanced medicines, emphasizing groundbreaking science and technology. Their capabilities span from research to patient delivery, underpinned by a decentralized cell therapy manufacturing platform aimed at transforming healthcare. Galapagos is dedicated not merely to addressing existing medical challenges but also to anticipating future healthcare needs, ensuring that their innovations reach those who require them most. For more information, interested parties can visit Galapagos' website or follow them on LinkedIn or X.
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