Date: 2017-06-20
Type of information: Private placement
Company: Onxeo (France)
Investors:
Amount: €15 Million
Funding type: private placement
Planned used:
- Net proceeds will reinforce Onxeo's cash position which amounted to € 21.7 million at 31 March 2017 and extend its financial visibility into Q1 2019. The funds raised will be used to complete the development of Livatag® in hepatocellular carcinoma, to explore the potential of Beleodaq® in combination, and support the development plan for AsiDNA™, a first-in-class DNA repair inhibitor.
Others:
- • On June 20, 2017, Onxeo announced a capital raise for gross proceeds of approximately € 15 million by means of a private placement via an accelerated book-build offering. Guggenheim ecurities and Oddo BHF acted as Joint Bookrunners. The operation, announced on June 19, 2017, was oversubscribed, bringing the amount raised from 12 M€ initially offered to 15 M€ at 4.25€ per share, representing a discount of 12.6% to the volume weighted average price of the Company’s shares over the 3 last trading days before pricing. US and European institutional investors specialized in healthcare and biotechnology have participated in the capital raise.
3,529,411 new shares, par value € 0.25 each, have been placed with qualified institutional investors in the US and Europe. The order book was well covered based on strong demand from new and existing investors specialized in healthcare and biotechnology, including Financière de la Montagne, the main shareholder of the Company. 72% of the demand was allocated to US investors.
The new shares are representing approximately 7.5% of the issued share capital of the company prior to the share capital increase.
Therapeutic area: Cancer - Oncology - Rare diseases
Is general: Yes
