Date: 2012-08-03
Type of information: Fundraising
Company: Biotie Therapies (Finland)
Investors: Yorkville Advisors LLC (USA)
Amount: up to € 20 million
Funding type: standby equity
Planned used: The purpose of the Standby Equity Distribution Agreement is to secure the financing of Biotie\'s working capital in the short and medium term. It remains at the sole and exclusive discretion of Biotie to exercise this option.
Others: Biotie Therapies has renewed its Standby Equity Distribution Agreement (\"SEDA\") with YA Global Master SPV Ltd. (\"YA Global\") a fund managed by Yorkville Advisors, LLC of Jersey City, New Jersey, USA (\"Yorkville\"). Under the terms of the agreement, Biotie has the option under certain conditions to take up YA Global\'s commitment to subscribe and pay for ordinary Biotie shares in multiple tranches up to a total value of 20 million euro over the period until November 2015.
The terms of the renewed SEDA follow the previous SEDA agreement published on 23 October 2009. In consideration of the committed standby equity Biotie will pay to YA Global a one-time commitment fee of EUR 200,000 either in cash or shares
Therapeutic area: Neurodegenerative diseases - Psychiatric diseases
