Date: 2012-09-07
Type of information: Private placement
Company: Biotie Therapies (Finland)
Investors: Lundbeck (Denmark)
Amount: € 30 million
Funding type: private placement
Planned used:
Others: Biotie Therapies Corp has executed a private placement of 46,511,630 newly issued shares at a subscription price of € 0.43 per share (the Offering). The shares have been allocated to institutional and strategic investors. As a result of the Offering, the share capital of Biotie will be increased by € 20,000,000.90.
The total amount of funds raised in the Offering and in the directed share issue to H. Lundbeck A/S announced by the Company(Lundbeck Issue) amounts to € 30 million and the total amount of new shares issued in the Offering and in the Lundbeck Issue is 65,116,281 shares.
The transaction was executed on 6 September, 2012, after the close of trading on the Finnish Stock Market. The transaction was priced at a 25% premium to closing price as of 6 September, EUR 0.5375 per share. The new shares will be listed on the NASDAQ OMX Helsinki Exchange. The new shares carry all shareholder rights once the new shares have been registered with the Finnish Trade Register.
In connection with the share subscription, Lundbeck has agreed not to sell or otherwise dispose the new shares during 18 months after the subscription without prior consent of Biotie.
The new shares offered in the Offering will be issued in the Finnish book-entry system and will be entered into the subscriber's book-entry accounts as interim shares against the payment of the subscription price on or about 13 September 2012. Trading with the interim shares (ISIN: FI4000047345 and trading symbol: BTH1VN0112) is expected to commence on 10 September 2012 as a separate class of securities. The interim shares will be combined with Biotie's current class of shares after the registration of the new shares with the Finnish Trade Register and the trading with the new shares is expected to commence on or about 17 September 2012. The new shares will rank pari passu in all respects with the existing shares of the Company once they have been registered with the Finnish Trade Register.
* On September 17, 2012, Biotie has announced that a total of 65,116,281 new shares offered in the company directed issues of shares to H. Lundbeck A/S as well as to institutional and strategic investors announced on 7 September 2012 and the related share capital increase of € 30,000,000.90 has been registered with the Finnish Trade Register today. The new shares rank pari passu in all respects with the existing shares of the Company as of their registration date.The registered new shares can be traded together with the Company's current series of shares on the stock exchange list of NASDAQ OMX Helsinki Ltd as of today.
Following the registration of the new shares with the Finnish Trade Register and the registration of the share capital increase, the share capital of Biotie is € 195,919,182.85 and the total number of shares 452,710,738. Since 9,169,507 Biotie shares are held by Biotie and its subsidiaries, the number of votes carried by the outstanding shares is 443,541,231.
Biotie is a specialized drug development company focused on the development of drugs for neurodegenerative and psychiatric disorders (e.g. Parkinson's disease, Alzheimer's disease and other cognitive disorders, alcohol and drug dependence (addiction) and post traumatic stress disorder), and inflammatory and fibrotic liver disease. The company has a strategic collaboration with UCB Pharma S.A. covering tozadenant for Parkinson's disease. The Marketing Authorization Application for Biotie's most advanced product, Selincro™ (nalmefene) for alcohol dependence was filed in the EU by its partner H. Lundbeck A/S and was accepted for review by the European Medicines Agency in December 2011.
Therapeutic area: Neurodegenerative diseases - Mental diseases
