Date: 2018-07-31
Type of information: Private placement
Company: AC Immune (Switzerland)
Investors:
Amount: $117.5 million
Funding type: private placement
Planned used:
- AC Immune plans to use the proceeds from the offerings primarily to fund research and development expenses for the Company's clinical and pre-clinical research and development activities, for working capital and the remainder for general corporate purposes.
Others:
- • On July 31, 2018, AC Immune announced the closing of its previously announced second subscription rights offering to eligible shareholders to subscribe for 1,500,000 newly issued common shares at a price per common share of $11.75, for gross proceeds of $17.6 million. As previously announced, on July 23, 2018, AC Immune closed its first subscription rights offering and registered public offering of 8,500,000 of its common shares at an offering price of $11.75 per share for aggregate gross proceeds of $99.9 million, bringing aggregate gross proceeds for all three offerings to $117.5 million.
- The second subscription rights offering was made pursuant to an effective shelf registration statement of the Company previously filed with the U.S. Securities and Exchange Commission.
- • On July 24, 2018, AC Immune announced the closing of its previously announced first subscription rights offering and underwritten primary offering of common shares, including the exercise in full by the underwriters of their option to purchase an additional 1,108,695 additional shares at the price per common share of $11.75. The exercise of the option to purchase additional shares brought the total number of common shares sold by AC Immune to 8,500,000 shares and increased the amount of gross proceeds raised in the offerings, before underwriting discounts and estimated expenses of the offering, to approximately $99.9 million.
- • On July 19, 2018, AC Immune announced the price per common share of $11.75 for the offerings of up to 10 million new common shares of the Company. The offering price will be the same for all three offerings,
- • On July 17, 2018, AC Immune announced that it is commencing offerings of up to 10 million new common shares of the company with a nominal value of CHF 0.02 each. The company intends to issue all new common shares against cash contributions as approved by the Company's shareholders. The offerings consist of:
- -a first subscription rights offering to the company's eligible shareholders who held common shares of the company at the close of trading on The Nasdaq Global Market on July 2, 2018 to subscribe for up to 8.5 million newly issued common shares on a pro rata basis
- -a registered public offering of up to 8.5 million newly issued common shares (which is expected to include common shares offered pursuant to an option granted by the company to the underwriters to purchase additional common shares) consisting of any common shares offered, but not subscribed for by eligible shareholders, in the first subscription rights offering through an accelerated book building procedure);
- - and a second subscription rights offering to eligible shareholders to subscribe for up to 1.5 million newly issued common shares on a pro rata basis.
- The subscription price per common share for the first subscription rights offering and the second subscription rights offering will be equal to the price per share at which newly issued common shares were sold in the primary offering . The price per new common share of the Company will therefore be the same for all three offerings. The offering price will be determined by the Company and the underwriters after the close of trading on The Nasdaq Global Market on July 18, 2018, based on the number of common shares for which preemptive subscription rights have been exercised in the first subscription rights offering, investor demand resulting from the book-building procedure, the price of the Company's existing common shares on The Nasdaq Global Market, and prevailing market conditions, but in no event will the offering price exceed $ 13.59, which represents a 10% premium to the last reported sale price of the Company's common shares as reported on The Nasdaq Global Market on July 16, 2018.
Therapeutic area: Neurological diseases - CNS diseases
Is general: Yes
