Fortress Investment Group’s New Subscription with Celyad Oncology SA

Fortress Investment Group is an investment management firm in the United States that is based in New York City. The firm was founded in 1998 by three gentlemen that go by the names of Wes Edens, Randal Nardone, and Rob Kauffman. Since the summer of 2020, this firm has managed around $45.5 billion in assets through credit funds, liquid hedge funds, and private equity.

The firm has institutional clients and private investors around the globe with which they partner financially. During the 2010 Olympics, Fortress Investment Group was the sole lender to the Millennium Development Group for building an athlete village worth approximately $875 million. This was a breakthrough in showing the world just what the firm has to offer with investments, funds, and availability towards partnerships.

Recently, it was announced that the Fortress Investment Group is part of a subscription agreement of 6,500,000 ordinary shares with Celyad Oncology SA. Celyad Oncology SA is a company that focuses on the development of a specific type of cancer therapy, related to the chimeric antigen receptor T cell. The subscription agreement has an expected closing date of December 8, 2021.

In the terms of the agreement, it states that the company will issue shares of USD 5.00 per share. Celyad Oncology SA intends to use these net proceeds to develop and discover new technology platforms for preclinical product candidates.

Filippo Petti, who is the CEO of Celyad, states that this investment with the Fortress Investment Group in New York provides a very important advancement for the company’s novel allogeneic CAR T candidates. Refer to this article to learn more.