Date: 2013-01-11
Type of information:
Company: Biotec Pharmacon (Norway)
Investors:
Amount: NOK 40 million (€ 5.45 million)
Funding type: private placement
Planned used: The net proceeds from the private placement will primarily be used to fund the launch and commercialization of Woulgan® Biogel, the company’s proprietary beta-glucan product for advanced wound healing. A limited amount will be spent on measures to enable positive cash flow generation in the company’s other subsidiary, ArcticZymes AS.
Others: Biotec Pharmacon has raised NOK 40 million (€ 5.45 million) in gross proceeds through a private placement of 9,500,000 new shares, each with a par value of NOK 1.00 at a price of NOK 4.25 per share. The new shares represent approximately 33.3% of the current issued shares in the Company. The Private Placement took place through an accelerated bookbuilding process and was managed by Carnegie AS.
The completion of the Private Placement is conditional upon all necessary corporate resolutions being validly made, including without limitation approval by the Extraordinary General Meeting of the Company expected to be held on or about 1 February 2013. After the completion of the Private Placement, the Company will have 38,052,816 shares outstanding, each with a par value of NOK 1.00.
* On February 11, 2013, Biotec Pharmacon has announced that the Financial Supervisory Authority of Norway approved the following prospectus: Listing of 9,500,000 New Shares resolved issued in connection with the Private Placement of 9,500,000 shares completed on 10 January 2013 at a subscription price of NOK 4.25, and listing of up to 2,500,000 Offer Shares to be issued in the Subsequent Offering.
Subsequent Offering of up to 2,500,000 Offer Shares at a subscription price of NOK 4.25 with pre-emptive rights for Biotec Pharmacon's shareholders per 10 January 2013, with the exception of those shareholders who were allocated New Shares in the Private Placement. The Subsequent Offering comprises 2,500,000 subscription Rights, where each subscription right grants the right to subscribe for one Offer Share. Each eligible shareholder will receive 0.1236 subscription rights per share owned 10 January 2013. Oversubscription is allowed. The subscription period is from 13 February 2013 to 27 February 2013 at 16:30 CET. Subscription rights not used to subscribe for Offer Shares before the expiry of the subscription period will be of no value and will automatically lapse without compensation to the holder.
Therapeutic area:
