Date: 2016-10-05
Type of information: Capital increase
Company: Probiodrug (Germany)
Investors:
Amount: € 14.9 million
Funding type: capital increase
Planned used:
- The net proceeds from the transaction will be used primarily to:
- • support preparations of further clinical development of lead product PQ912 beyond the ongoing Phase 2a (SAPHIR) trial, in particular a long-term treatment (Phase 2b);
- • support further development of PBD-C06 and PQ1565 and exploration of other mechanism-related indications;
- • support exploration of business opportunities, in particular support a transaction based upon the data of the SAPHIR study;
- • and strengthen the financial position of the company.
Others:
- • On October 6, 2016, Probiodrug announced that it has priced 744,248 new shares, with a notional par value of € 1.00 per share, issued through an accelerated bookbuild offering, at an aggregate value of € 14.9 million. As a result, the management board of the company has resolved, with approval of the Company’s supervisory board, to increase its share capital by € 744,248, from € 7,442,487 to € 8,186,735, by issuing 744,248 new shares with a notional par value of € 1.00 per share.
- The order book was well covered based on strong demand from European and US investors. The new shares have been placed with selected qualified institutional investors at a price of € 20.00 per share. The issued shares represent approximately 10% of the company’s currently issued share capital.
- • On October 5, 2016, Probiodrug announced that the company intends to issue up to 744,248 new shares. The New Shares represent up to approximately 10% of the company's issued share capital. In this context, the company's management board has resolved, with approval of the company's supervisory board, to increase the share capital of the Company by € 744,248, from € 7,442,487 to € 8,186,735, against cash contribution by utilizing partially the company's authorized capital. The pre-emptive rights of the company's existing shareholders are excluded. The offering will take place by means of an accelerated bookbuilding.
- Kempen & Co is acting as Global Coordinator and together with Bank am Bellevue and RBC Capital Markets as Joint Bookrunners in the offering. The shares will be offered exclusively to institutional investors in Germany and elsewhere in Europe and in certain other jurisdictions.
Therapeutic area: Neurodegenerative diseases
Is general: Yes
