Mesoblast Announces Pricing Of Public Offering On Nasdaq

NEW YORK and MELBOURNE, Australia, Nov. 13, 2015 (GLOBE NEWSWIRE) -- Mesoblast Limited (NASDAQ:MESO) (ASX:MSB), a world leader in the development of innovative cell-based medicines, today announced the pricing of its public offering of 7,479,617 American Depositary Shares (ADSs), at a public offering price of US$8.00 per ADS, before underwriting discounts and commissions. In addition, Mesoblast has granted the underwriters a 30-day option to purchase up to an additional 1,121,942 ADSs at the public offering price to cover over-allotments, if any. Mesoblast expects gross proceeds before deducting underwriting discounts and commissions and expenses of approximately US$59.8 million or A$83.9 million, or US$68.8 million or A$96.5 million if the underwriters exercise their over-allotment option. The ADSs are expected to begin trading on the Nasdaq Global Market on 13 November, 2015 under the symbol 'MESO'.

Mesoblast has established a diverse portfolio of product candidates based on its proprietary allogeneic, off-the-shelf mesenchymal lineage cell-based technology, with multiple active Phase 3 clinical programs. Mesoblast's lead product candidates target major diseases with significant unmet medical needs despite existing therapies. These include chronic heart failure, chronic low back pain due to degenerative disc disease, and immune-mediated conditions such as acute graft versus host disease and biologic refractory rheumatoid arthritis.

J.P. Morgan and Credit Suisse are acting as the joint book-running managers and the representatives of the underwriters. Maxim and Ladenburg Thalmann are acting as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 12, 2015. The offering will be made only by means of a prospectus, copies of which may be obtained from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, telephone: 866-803-9204, or by e-mail at; or Credit Suisse Securities (USA) LLC, c/o Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 800-221-1037 or by e-mail at

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Mesoblast

Mesoblast Limited (NASDAQ:MESO) (ASX:MSB) is a global leader in regenerative medicine. The Company has leveraged its proprietary technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a broad portfolio of late-stage product candidates. Mesoblast's allogeneic, 'off-the-shelf' cell product candidates target advanced stages of diseases where there are highly unmet medical needs, including cardiovascular conditions, orthopedic disorders, immunologic and inflammatory disorders and oncology/hematology conditions.


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