Adaptimmune Therapeutics plc, which uses T-cell therapy to treat cancer, is pricing an underwritten public offering of 21,000,000 of its American Depositary Shares at a price to the public of $4 per ADS.

In connection with the offering, Adaptimmune has granted the underwriters a 30-day option to purchase up to an additional 3,150,000 ADSs at the public offering price. The gross offering size for this offering is expected to be approximately $84 million, excluding any exercise of the underwriters' option to purchase additional ADSs.

All ADSs in this offering are being sold by Adaptimmune with net proceeds to be used to advance the development of Adaptimmune’s immunotherapies into and through clinical trials as well as for other general corporate purposes.

This offering is expected to close on or about January 24, 2020, subject to customary closing conditions.

Cowen is acting as sole book-running manager for the offering and Roth Capital Partners is acting as co-manager for the offering.