Date: 2016-12-19
Type of information: Private placement
Company: Nabriva Therapeutics (Austria)
Investors:
Amount: $25 million
Funding type: private placement
Planned used: Nabriva Therapeutics plans to use the net proceeds from the rights offering and the underwritten offering for general corporate purposes, including working capital and pre-commercial activities.
Others: • On December 19, 2016, Nabriva Therapeutics announced the closing of its previously announced rights offering. The rights offering and the subsequent underwritten offering together generated aggregate gross proceeds of approximately $25 million. Aggregate net proceeds to Nabriva from the rights offering and the underwritten offering are expected to be approximately $21 million, after deducting estimated fees and offering expenses. • On December 14, 2016, Nabriva Therapeutics announced the completion of its previously announced rights offering for up to 588,127 common shares, including common shares represented by American Depositary Shares (ADSs), to its existing common shareholders and ADS holders and an underwritten offering of 3,267,750 ADSs, representing all of the 326,775 unsubscribed common shares. • On November 29, 2016, Nabriva Therapeutics announced the terms of its rights offering for up to 588,127 common shares, including common shares represented by American Depositary Shares (ADSs), to its existing common shareholders and ADS holders. The record date of the rights offering is November 29, 2016. Holders of common shares on the record date are entitled to exercise statutory rights to subscribe for new common shares to maintain their proportionate ownership interest in Nabriva in accordance with the relevant provisions of the Austrian Stock Corporation Act. Each ADS represents one tenth (1/10) of a common share. Pursuant to the rights offering: Holders of ADSs on the record date received 0.276 ADS rights for each ADS owned on that date. One ADS right entitles an ADS holder to subscribe for and purchase one new ADS at the U.S. dollar equivalent of €4.014 per ADS. Based on a euro-to-U.S. dollar exchange rate of €1.00 to $1.0588, Nabriva estimates that subscription price at $4.25 per ADS.
Therapeutic area: Infectious diseases
