Date: 2015-05-15
Type of information: Private placement
Company: Circassia Pharmaceuticals (UK)
Investors:
Amount: £275 million (€ 380 million)
Funding type: private placement
Planned used: Circassia Pharmaceuticals intends to make an offer to acquire the entire issued and to be issued share capital of Aerocrine, a Swedish listed company focused on the development and commercialisation of medical diagnostic products for use in the diagnosis and management of patients with asthma. The compay also intends to acquire the entire issued and to be issued share capital of Prosonix for an aggregate consideration of up to £100 million to be paid in cash, of which £30 million is contingent on UK approval of Prosonix’s lead product, which is currently under review by the UK Medicines and Healthcare products Regulatory Agency (MHRA).
Others: * On May 15, 2015, Circassia Pharmaceuticals, a specialty biopharmaceutical company, announced that it proposes to raise £275 million, through a Placing and Open Offer. Circassia has today separately announced that it proposes to raise £275 million, before expenses, through a Placing and Open Offer. The Placing and Open Offer is being fully underwritten by J.P. Morgan Cazenove and Peel Hunt LLP on, and subject to, the terms of the Placing Agreement.The Placing and Open Offer is being fully underwritten by J.P. Morgan Cazenove and Peel Hunt. A General Meeting is to be held at Northbrook House, Robert Robinson Avenue, Oxford Science Park, Oxford, Oxfordshire, OX4 4GA, United Kingdom at 10.00 a.m. on 10 June 2015 for the purpose of seeking approval for the Aerocrine Acquisition and the proposed Placing and Open Offer. Invesco Asset Management, as agent for and behalf of its discretionary managed clients, Imperial Innovations, Woodford Investment Management and Lochside (International) Ltd, who account for c.57 per cent of Circassia\'s issued share capital, have indicated their support for the Placing and the Acquisitions and their current intention is to vote in favour of the Resolutions at the General Meeting. Funds managed by Invesco Asset Management Limited and Woodford Investment Management have indicated their intention to participate in the equity raise. Circassia Pharmaceuticals intends to make an offer to acquire the entire issued and to be issued share capital of Aerocrine, a Swedish listed company focused on the development and commercialisation of medical diagnostic products for use in the diagnosis and management of patients with asthma. The compay also intends to acquire the entire issued and to be issued share capital of Prosonix for an aggregate consideration of up to £100 million to be paid in cash, of which £30 million is contingent on UK approval of Prosonix’s lead product, which is currently under review by the UK Medicines and Healthcare products Regulatory Agency (MHRA).
Therapeutic area: Allergic diseases - Inflammatory diseases - Respiratory diseases
