Date: 2012-12-20
Type of information: Private placement
Company: Tigenix (Belgium)
Investors:
Amount: € 6.7 million
Funding type: private placement
Planned used: TiGenix will use the funds mainly for the commercial roll out of ChondroCelect® in selected European markets and for progressing with the clinical development of Cx601 in complex perianal fistulas in Crohn\'s patients. TiGenix will use the funds mainly for the commercial roll out of ChondroCelect® in selected European markets and for progressing with the clinical development of Cx601 in complex perianal fistulas in Crohn\'s patients.
Others: * On December 19, 2012, TiGenix has announced that it will launch a private placement of up to 8,629,385 new ordinary shares. The Board of Directors will disapply the preferential subscription rights of existing shareholders in connection with the intended capital increase, which will take place within the limits of the authorized share capital in accordance with article 6 of the articles of association of TiGenix. TiGenix will use the funds mainly for the commercial roll out of ChondroCelect® in selected European markets and for progressing with the clinical development of Cx601 in complex perianal fistulas in Crohn\'s patients. A phase 3 trial is ongoing and the first patients have been enrolled in July 2012.
The new shares will be placed through an accelerated bookbuilding procedure. The placing will start on 19 December 2012. The Company has asked the Financial Services and Markets Authority (FSMA) to suspend its shares from trading on NYSE Euronext Brussels. Trading in the share will resume shortly following the publication of the results of the placing.
The Company will announce the results of the placing as soon as possible after closing of the bookbuilding.
* On December 20, 2012, TiGenix has announced that it has raised € 6.7 million through a private placement via the accelerated bookbuilding procedure announced on 19 December 2012 after the market closed. The private placement has allowed TiGenix to place 8,629,385 new shares with a wide range of domestic and international investors at a price of € 0.78 per share, a 9.30% discount on the average closing price of the TiGenix share over the 30 day period preceding 20 December 2012. This represents 9.41% of the current number of outstanding shares and will bring the total number of shares after the issue to 100,288,586. The new shares will be admitted to listing on NYSE Euronext Brussels following their issuance, which is expected to take place on 27 December 2012. The placement generated a total demand of more than twice the number of shares placed.
Therapeutic area: Autoimmune diseases- Immunological diseases - Digestive diseases
