Date: 2016-04-18
Type of information: Private placement
Company: AB Science (France)
Investors:
Amount: € 12 million
Funding type: private placement
Planned used: AB Science intends to primarily use the net proceeds from the placement to fund the company's general needs and finance its clinical development program.
Others: * On April 18, 2016, AB Science announced the completion of a private placement of new shares with subscription warrants attached that resulted in gross proceeds for the Company of approximately € 12.0 million by accelerated book-building procedure announced on April 17, 2016. AB Science placed a total of 764,820 Securities by means of a capital increase without shareholders’ preemptive rights, which represents approximately 2.18% of the outstanding
shares prior to the private placement and a dilution of approximately 2.14% for existing shareholders.
Following an accelerated book-building process, the price of the placement was set at € 15.69 per share. This price represents a 10% discount to the volume weighted average price of the last five trading days preceding the pricing date, i.e. € 17.43. The net proceeds are estimated to be approximately € 12.0 million.
Four warrants will give the right to subscribe to one additional ordinary share of the Company at € 15.69 per one warrant share, that is a potential additional dilution of 0.53% for existing shareholders. The warrants shall be exercisable within a year from their issuance. They will not be listed on Euronext Paris. The warrants shall be exercisable at € 15.69 per ordinary share. If all the warrants are exercised, the Company would receive an additional € 3.0 million of proceeds.
* On April 17, 2016, AB Science announced the launch of a capital increase by means of a Private Placement reserved to institutional investors. The Private Placement is capped at 956,025 shares, to be issued immediately or following the exercise of any instrument giving access to the share capital. The capital increase will be conducted without the pre-emptive rights of shareholders pursuant to the delegation granted to the board of directors by the AB Science's combined shareholders meeting on June 22, 2015 (12th and 13th resolutions). The Private Placement will be conducted by way of an accelerated book-building starting immediately at the end of which the number of shares issued and the placement price will be determined. Prior to the Private Placement, AB Science’s share capital consists of 35,010,291 ordinary shares.
Therapeutic area: Rare diseases - Hematological diseases - Neurodegenerative diseases
