Date: 2015-12-03
Type of information: Private placement
Company: Erytech Pharma (France)
Investors:
Amount: € 25.4 million
Funding type: private placement
Planned used: Erytech Pharma intends to use the proceeds from the private placement in order to fund the following initiatives in accordance with the progress of the development of its product candidates: - the continued clinical development of its ERY-ASP/GRASPA specifically for the treatment of acute lymphoblastic leukemia (ALL) as a first-line therapy in Europe and the United States, and for the treatment of Non-Hodgkin lymphoma; - the development of new product candidates, including the Phase I clinical trial of its product candidate, ERY-MET, and the incubation of its tumor vaccination program, ERY-VAX; and - the development of its ERYCAPS platform technology and other pre-clinical development programs. The Company intends to use the remainder of the funds for working capital and other general corporate purposes.
Others: * On December 3, 2015, Erytech Pharma announced the pricing of a private placement of 940,000 ordinary shares to qualified investors in the United States and Europefor a total amount subscribed of approximately € 25.4 million. This private placement was conducted by Jefferies International Limited, Leerink Partners LLC and Bryan Garnier & Co. Limited, acting as placement agents and LifeSci Capital LLC, acting as co-manager. The Company placed 940,000new shares with a par value of € 0.10, at a price of € 27.00 per share, including share premium, for a total amount subscribed of approximately € 25.4 million, representing approximatively 14% of the share capital of the Company. The share capital increase of the Company was carried out by issuing ordinary shares without preferential subscription rights by private placement amongst qualified investors in accordance with Article L. 411-2 II of the French Monetary and Financial Code (Code monétaire et financier). The capital increase transaction was authorized on October 29, 2015 by the Company’s Board of Directors and implemented by decisions of the Board of Directors dated December 2, 2015 and decisions of the Chairman and CEO dated December 3, 2015 pursuant to the delegation granted by the 15th and 19th resolutions of the Company’s Combined General Meeting of Shareholders held on June 23, 2015. The issue price of the new shares represented a discount of 3.1% from the closing price on December 2, 2015, and 4.8% from the weighted average share price of the Company’s shares on the regulated market of Euronext Paris during the three trading days preceding the determination of the issue price. On an illustrative basis, a shareholder holding 1% of the Company’s share capital before the issuance will now hold a stake of 0.88% after the transaction. Settlement and delivery of the new shares is scheduled to occur on December 7, 2015. The new shares carry dividend rights and will be admitted to trading on the Euronext Paris under ISIN FR0011471135 – ERYP. Following the settlement and delivery of the private placement, the share capital of the Company will be composed of 7,849,531shares.
Therapeutic area: Cancer - Oncology - Rare diseases
