Date: 2015-03-06
Type of information: Capital increase
Company: Nicox (France)
Investors:
Amount: €27 million
Funding type: capital increase
Planned used: The proceeds from the financing will be used to finance Nicox\'s growth strategy to become a leading global specialty ophthalmic
company, through advancing its late-stage pipeline of two pre-NDA1 (United States) and two pre-MAA2 (Europe) products and supporting its commercial activities.
Others: * On March 6, 2015, Nicox announced a reserved capital increase of ordinary shares of the Company to specific categories of investors. The gross proceeds of the financing are approximately €27 million, for a total of 15 million new shares. New institutional investors specialized in life sciences have participated in this financing, strengthening the shareholding structure. Overall, approximately 72% of the new investors are from the United States and 28% from Europe. The share capital increase strengthens Nicox’s net cash balance to approximately €48 million as of the closing date.
The share capital increase, by issuance of 15 million new ordinary shares, was reserved for subscription by French or foreign companies or mutual funds investing in the pharmaceutical biotechnology sector (sociétés ou fonds gestionnaires d’épargne collective de droit français ou de droit étranger investissant dans le secteur pharmaceutique/biotechnologique). The subscription price of the New Shares has been set at €1.80 per New Share. Following the completion of the capital increase, the 15,000,000 New Shares will represent approximately 15% of the issued share capital of the Company before the capital increase and 13% after the capital increase.
Directors and Executive Committee members of Nicox have agreed to certain customary lock-up arrangements with the Placement Agents on the shares they hold in Nicox for a 90-day period. Guggenheim Securities, LLC acted as Lead Placement Agent for the offering, and Bryan, Garnier & Co and Needham & Company, LLC acted as placement agents.
Therapeutic area:
