Date: 2013-08-31
Type of information: Private placement
Company: Evotec (Germany)
Investors: Biotechnology Value Fund (USA), BVF Partners L.P. (USA)
Amount: € 30 million
Funding type: private placement
Planned used: This additional capital further strengthens the ability for Evotec to invest in and expand its best-in-class EVT Execute Pharma outsourcing service strategy and its EVT Innovate strategy to build significantly more Cure X and Target X initiatives together with top academic partners and biotech firms.
Others: * On August 31, 2013, Evotec has announced a 9.9% increase of its share capital. Evotec resolved on a capital increase from its authorised capital against cash contribution by issuing 11,818,613 new shares to the Biotechnology Value Fund, L.P. and other affiliates of the US biotech specialist investment firm BVF Partners L.P. Shareholders’ subscription rights will be excluded. In a direct placement capital increase, which was arranged between the Company and BVF, BVF will invest € 30 m to subscribe for 11,818,613 new shares of Evotec at a share price of € 2.55 per share. This involves a discount of approximately 3% to the closing auction price of the share on 27 August 2013, one day prior to the day of the Management Board resolution. With the registration of the capital increase in the commercial register, the registered share capital of the Company will increase to € 130,365,452.
In a simultaneous transaction, BVF also purchased an option from TVM granting BVF the right to acquire an additional 11,818,612 shares of Evotec at € 4.00 per share within the next 30 months. Should this option be exercised in full, BVF will have a total shareholding in Evotec of over 18%.
Therapeutic area:
