Date: 2011-04-05
Type of information: Private placement
Company: MDxHealth (Belgium)
Investors:
Amount: € 8.2 Million
Funding type: private placement of new shares
Planned used: The net proceeds of the private placement will increase MDxHealth's financial flexibility. They will be used to accelerate product development in line with the new business strategy and to set up a CLIA laboratory and hire a sales and marketing team in the US.
Others: MDxHealth SA has successfully raised approximately € 8.2 million in gross proceeds through a private placement of new shares with investors in various jurisdictions. Pursuant to the private placement, MDxHealth will issue 5,436,713 new ordinary shares for an offer price of € 1.50 per share.
The payment and delivery of the new shares is expected to take place on April 8, 2011, at which date the new shares are also expected to be admitted to listing, subject to the approval and publication of a listing prospectus. The new shares will be fungible with the existing shares on NYSE Euronext. Immediately after the closing of the private placement, MDxHealth's issued and outstanding share capital will increase from 13,185,614 to 18,622,327 ordinary shares.
On April 18, 2011, MDxHealth announced that it has received new shareholding notifications following its issuance of new shares on April 8. As part of the private placement of $11.7 million the company closed on April 8, Rudi Mariën, one of Belgium's most successful life science entrepreneurs and investors, obtained a stake of 9 percent in the company through his investment company Biovest.
Therapeutic area: Cancer - Oncology
