Date: 2011-02-23
Type of information: Private placement
Company: Intercell (Austria)
Investors: international institutional investors
Amount: € 33 million
Funding type: private placement
Planned used: The offering will provide additional financial flexibility to Intercell for the advancement of its clinical programs and leading technologies in vaccine and anti?infective antibody innovation as well as regarding important upcoming partnering decisions.
Others: Intercell AG has successfully placed € 33 million of senior unsecured convertible notes in a private placement transaction, which was increased due to investor demand. The notes have a conversion price of € 11.43 reflecting a premium of 20.0% to the volume weighted average price and of 18.4% to the closing share price of Intercell's shares on February 22, 2011 The transaction was subscribed by international institutional investors. The statutory subscription rights of the existing shareholders have been excluded. Closing of the transaction is subject to a confirmatory approval by Intercell's Supervisory Board after the expiry of the 14-day publication period of the Management Board's report on the exclusion of the subscription rights and customary closing conditions. Intercell intends to use the net proceeds for general corporate purposes.
Therapeutic area: Infectious diseases
