Date: 2013-12-16
Type of information: Credit line
Company: Neovacs (France)
Investors:
Amount:
Funding type: equity line
Planned used:
Others: * On December 16, 2013, Neovacs, a leader in active immunotherapies for the treatment of autoimmune diseases, has announced that it has arranged a contingent equity line with Kepler Cheuvreux, available in tranches over time at Neovacs’ discretion, as approved by shareholders at the Annual General Meeting of June 10, 2013.
The shares subscribed by Kepler Cheuvreux can be issued by tranches within the next 36 months, exclusively at Neovacs’ request, within an overall envelope of 1,970,000 new shares, i.e. 9,9% of the current total number of shares. For each tranche, the issuance price will reflect the then share market price performance, minus a discount of 6%. This discount will enable Kepler Cheuvreux to instantly underwrite the shares despite possible market volatility. Acting as financial intermediary, Kepler Cheuvreux does not aim to remain a shareholder of the Company.
Neovacs has no drawdown obligation, and only intends to use this equity facility if needed, in the best interest of both the Company and its shareholders.
Therapeutic area: Allergic diseases - Immunological diseases
