Date: 2016-09-30
Type of information: Capital increase
Company: Onxeo (France)
Investors:
Amount: €12.5 million
Funding type: capital increase
Planned used: Onxeo intends to use the net proceeds from this capital increase to pursue its R&D programs in the field of innovative therapeutics for rare cancers. The company plans to finance completion of Phase III Relive trial for Livatag® as well as pre-clinical studies in combination with this product, first stages of development of AsiDNA™, notably the manufacturing processand evaluation of its efficacy using a systemic delivery route, future developments of Beleodaq® including first line PTCL indication, and other working capital and general corporate purposes.
Others: * On September 30, 2016, Onxeo announced the successful completion of a capital increase of 5,434,783 new ordinary shares for gross proceeds of €12.5 million. Prominent new US and European institutional investors specialized in healthcare and biotechnology have participated in the placement, significantly reinforcing and diversifying the Company’s shareholding structure. Net proceeds will reinforce the cash position of the Company which will amount to €34.9 million at closing. Onxeo issued 5,434,783 new ordinary shares, each with a par value of € 0.25, representing 13% of the share capital of the Company. Following settlement and delivery of the offering, which is expected to occur on October 5, 2016, subject to customary conditions, the total issued share capital of the Company will consist of 46,905,643 shares. The new ordinary shares were subscribed at a price of €2.30 per share, corresponding to a discount level of 25% to the 3 trading day volume weighted average price preceding pricing, in accordance with the 17th resolution referred to above. On an illustrative basis, a shareholder holding 1% of Onxeo’s capital before the offering will now hold a stake of 0.9%. Financière de la Montagne, the largest shareholder of the Company, has subscribed 741,847 shares representing €1.7m, i.e 13.65% of the placement, equal to its stake in the current share capital of the Company, reinforcing its confidence and support in the Company. Guggenheim Securities, LLC and Oddo & Cie acted as Joint Bookrunners.
Therapeutic area: Cancer - Oncology - Rare diseases
