Date: 2016-06-22
Type of information: Capital increase
Company: Neovacs (France)
Investors:
Amount: € 8.7 million
Funding type: capital increase
Planned used: The funds raised will enable Neovacs to strengthen its financial base and fund its future programmes. In particular, funds will be deployed for external costs related to the clinical and preclinical trials, the preparation, development and production of IFN?-K clinical lots in anticipation of a Korean market entry and the launch of phase III trial with the IFN?-K for the treatment of lupus. The Company will also initiate a phase IIa study with IFN? Kinoid in dermatomyositis with a part of the proceeds.
Others: * On June 22 , 2016, Neovacs announced the successful completion of its capital increase with preferential subscription rights (PSRs), which took place June 1-22, 2016. The demand for shares amounted to approximately 8.7 million euros, distributed as follows:
- 4 715 478 new shares were subscribed on an irreducible basis, representing 49.8% of the new shares to be issued;
- 1 360 061 new shares were requested and subscribed for excess shares, representing 14.4% of the new shares to be issued;
- 4 176 470 new shares were requested and subscribed to free title, representing 44.1% of the new shares to be issued.
Subscriptions to free title will only be partially allocated with a total of 3 389 288 new shares, of which
3 095 171 new shares are allocated to the guarantor investors, distributed among them proportionnally
to their subscription commitments.
Following the completion of this offering, Neovacs share capital will be of 6 388 758.30 euros, consisting of 42 591 722 shares.
Therapeutic area: Autoimmune diseases – Inflammatory diseases - Rheumatic diseases
