Galapagos NV 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 recently received a transparency notification and a 13D filing from Tang Capital Management.

According to Belgian transparency laws, Galapagos was informed on February 14, 2025, that Mr. Kevin Tang, along with Tang Capital Management, LLC ("TCM"), Tang Capital Partners, LP ("TCP"), Tang Capital Partners International, LP ("TCPI"), and Tang Capital Partners III, Inc. ("TCP III") hold shares that exceed a certain threshold of voting rights.

Specifically, TCP and TCPI together own a total of 887,227 ordinary shares, while TCP, TCPI, and TCP III collectively hold an aggregate of 2,436,180 American Depository Receipts ("ADRs"), each ADR representing one ordinary share. Altogether, this amounts to 3,323,407 voting rights for Galapagos, which is equivalent to 5.04% of the 65,897,071 shares currently outstanding.

The notification indicates that these holdings pushed Tang Capital's voting rights above the 5% threshold following their acquisition of shares on February 7, 2025. Furthermore, it details that Mr. Tang, who manages TCM and serves as CEO of TCP III and Tang Capital Partners IV, Inc. ("TCP IV"), shares voting and control power over the acquired shares with TCM, TCP, TCPI, and TCP III. Notably, TCM, TCP, TCPI, and TCP III can exercise their voting rights independently if they do not receive specific instructions from Mr. Tang.

In addition to the transparency notification, TCM filed a Schedule 13D with the Securities and Exchange Commission (SEC) on February 14, 2025. This filing reveals that Tang Capital beneficially owns a total of 4,910,525 voting rights, which comprises 966,119 ordinary shares and 2,544,406 ADRs. It also includes 1,400,000 ADRs giving the right to purchase more Galapagos shares under call options that are set to expire on February 21, 2025. This collective ownership represents 7.5% of Galapagos’ voting rights.

The Schedule 13D filing further mentions potential obligations of Tang Capital to purchase 1,043,500 shares through put options that also expire on February 21, 2025. Moreover, there are potential obligations to sell 200,000 shares under call options that will expire on April 17, 2025.

Both the full transparency notification and the Schedule 13D filing can be accessed through the Galapagos website.

About Galapagos

Galapagos is a biotechnology company with a focus on advancing patient care through innovative scientific methods and research. Their operations span Europe and the U.S., with a commitment to addressing significant medical needs through a robust pipeline of advanced medicines. They strive not only to meet existing healthcare demands but also to anticipate and shape the future of medicine, ensuring their innovations reach the patients who need them. For more information, please visit www.glpg.com or follow them on LinkedIn or X.

Contact Information

For media inquiries:

Srikant Ramaswami
+1 412 699 0359
Marieke Vermeersch
+32 479 490 603
[email protected]

For investor inquiries:

Srikant Ramaswami
+1 412 699 0359
Sandra Cauwenberghs
+32 495 58 46 63
[email protected]

Galapagos, Tang, Transparency