Date: 2016-04-14
Type of information: Private placement
Company: Molecular Partners (Switzerland)
Investors:
Amount: CHF 30,000,000
Funding type:
Planned used:
Others: * On April 14, 2016. Molecular Partners announced the successful completion of a selldown of shares. Certain shareholders of Molecular Partners AG, including employees, consultants, members of the board of directors of Molecular Partners AG and certain venture capital shareholders have successfully placed 1,100,000 shares in an Accelerated Bookbuilding transaction. The shares have been priced at CHF 27.50 per share. UBS AG is acting as Sole Global Coordinator and Joint Bookrunner, along with J.P. Morgan as Joint Bookrunner. Bank am Bellevue and Bank Vontobel are acting as Co-Lead Managers. * On April 13, 2016, Molecular Partners announced the launch of a selldown of shares. Based on significant demand and a large anchor order from a specialist US investor, the deal will now be upsized to a maximum aggregate sales price of approximately CHF 30,000,000. The vast majority of the incremental number of shares will be supplied by certain of the existing venture capital shareholders. All sellers will be subject to a 90 day lock-up. The order book will close on April 14, 2016, 08.30am CET. The result of the transaction will be announced shortly afterwards.
* On April 13, 2016. Molecular Partners announced the launch of a selldown of shares by employees, certain consultants, and members of the board of directors of Molecular Partners AG via an accelerated bookbuilding. During the first few years after incorporation, employees, consultants and members of the board of directors of Molecular Partners AG received stock options as an important part of their compensation packages in order to keep the cash burn at the lowest possible level. The first portion of these options is now approaching its expiration. Upon exercise, the respective option holders will be required to pay the corresponding income and wealth taxes as well as social security contributions.
Exercising option holders therefore intend to engage in a share placement in order to use the corresponding proceeds to cover these expenses. The option holders are planning to sell for this purpose a number of shares corresponding to a maximum aggregate sales price of approximately CHF 20,000,000. The settlement of the transaction is expected to take place on or around 18 April 2016. Molecular Partners AG and the option holders have agreed to a lock-up for 90 days from the closing date of the transaction.
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