Date: 2015-06-24
Type of information: Private placement
Company: MDX Health (Belgium)
Investors:
Amount: € 27.7 million
Funding type: private placement
Planned used: The net proceeds of the placement of the new shares will be used mainly to support and scale-up the Company\'s U.S.-based managed care and related healthcare reimbursement efforts, its clinical affairs efforts and its sales and marketing efforts. In addition, depending on the amount raised, the net proceeds would be used to accelerate product development (amongst others, by conducting clinical studies to further support the clinical validity of the ConfirmMDx for Prostate Cancer test and tests in development for bladder cancer) and for general corporate purposes.
Others: * On June 26, 2015, MDxHealth announced, in conformity with article 15 of the Belgian Act of May 2, 2007 on the publication of significant shareholdings in issuers which shares are admitted to trading on a regulated market, that further to the capital increase that was completed on Friday, June 26, 2015, its share capital has increased from € 30,191,238.09 to € 35,097,093.09, and its number of issued and outstanding shares has increased from 37,848,490 to 43,998,490 ordinary shares, through the issuance of 6,150,000 new shares. In addition to the outstanding shares, the total number of existing warrants (whether or not already granted or already vested) on the date of this press release amounts to 2,554,163 warrants which (if exercised) would entitle their holders to 2,683,315 shares with voting rights. * On June 24, 2015, MDxHealth announced that it has successfully raised € 27,675,000 in gross proceeds by means of a private placement of 6,150,000 new shares with a group of institutional, qualified or professional investors (including, subject to applicable securities law, rules and regulations, natural persons) in and outside of Belgium at an issue price of € 4.50 (or USD 5.041) per share. The closing price of the MDxHealth share on Euronext Brussels on June 23, 2015, before the launch of the private placement, was € 4.829 per share. Petercam acted as Global Coordinator and Petercam and KBC Securities acted as Joint Bookrunners in the private placement. Petercam, acting as Settlement Agent, has entered into a share swap agreement with a core shareholder of the company in order to deliver listed shares to all investors who receive allocated shares in the private placement. As part of this share swap agreement, the core shareholder will deliver existing and listed shares to the Settlement Agent. The core shareholder shall receive in exchange the same number of newly issued non-listed shares. The shares that the core shareholder will receive as a result of the share swap agreement will be listed upon approval of a listing prospectus by the FSMA on a later date. The payment and delivery of the listed shares to the investors is expected to take place on June 26, 2015. The new shares to be issued will have the same rights and benefits as, and rank pari passu in all respects with, the existing and outstanding shares of MDxHealth at the moment of their issuance and will be entitled to distributions in respect of which the relevant record date or due date falls on or after the date of issue of the new shares. As a result of the issuance of new shares, the company\'s share capital will increase from € 30,191,238.09 to € 35,097,093.09 and its issued and outstanding shares will increase from 37,848,490 to 43,998,490 ordinary shares. * On June 23, 2015, MDxHealth announced that it has launched an equity offering by means of a private placement targeted primarily to a group of institutional, qualified or professional investors (including, subject to applicable securities law, rules and regulations, natural persons) in and outside of Belgium, with the intention to raise an amount of approximately € 20 million, with the possibility to increase the size of the placement. Petercam acts as Global Coordinator and Petercam and KBC Securities act as Joint Bookrunners for the private placement, which shall be structured as an accelerated bookbuilding. The bookbuilding procedure will commence immediately and is expected to close on June 24, 2015, subject to acceleration or extension of the timetable. The trading in MDxHealth shares on Euronext Brussels will be suspended throughout the bookbuilding period. Trading in the stock is expected to resume following the publication of the results of the placement
Therapeutic area: Cancer - Oncology - Diagnostic
