Date: 2012-03-13
Type of information: Private placement
Company: Hybrigenics (France)
Investors:
Amount: € 3.3 million
Funding type: private placement
Planned used: The proceeds of this placement will be used to manufacture new batches of inecalcitol and of inecalcitol tablets, and to cover the clinical costs of the CLL study.
Others: * On March 13, 2012, Hybrigenics has announced the successful closing of a € 1.85 million private placement to institutional investors to finance its new phase II study with inecalcitol. A total of 1,650,000 new shares have been issued in a private placement a the price of €1.12 each to several qualified investors based upon the delegation of powers approved by the 12th resolution of the Shareholder’s Meeting held on June 25, 2010 and following an accelerated book building procedure according to paragraph II of article L.411-2 of the French Financial and Monetary Code. Bryan Garnier & Co was the exclusive placement agent and book runner. In total, the two placements amount to €3.3 million and 2,948,513 new shares. Bryan Garnier & Co was the exclusive placement agent and book runner.
The new shares represent 11.5% of Hybrigenics’ capital before the transaction and 10.3% after. Their price represents a discount of 19% on the mean of the volume-weighted average prices of the last five trading days prior to the closing of the transaction.
* On March 27, 2012, - the company has announced the successful closing of a € 1.45 million additional private placement to institutional investors. Following the success of the previous placement of € 1.85 million and its favorable welcome by a receptive stock market, excess demand has been fulfilled in this second
round of placement. This additional fund-raising will be used, to a large extent, for the scale-up of the chemical manufacturing of inecalcitol that would be needed for further clinical studies with potential pharmaceutical partners.
A total of 1,298,513 new shares have been issued in a private placement at the price of € 1.12 each to several qualified investors based upon the delegation of powers approved by the 12th resolution of the Shareholder’s Meeting held on June 25, 2010 and following an accelerated book building procedure according to paragraph II of article L.411-2 of the French Financial and Monetary Code. The new shares represent 8.1% of Hybrigenics’ capital before the transaction and 7.5% after.
Therapeutic area: Cancer - Oncology - Technology - Services
