Date: 2014-07-01
Type of information: Capital increase
Company: Celyad previously known as Cardio3 Biosciences (Belgium)
Investors: Medisun International Limited (China)
Amount: €25 million
Funding type: capital increase
Planned used: This capital increase is aimed at providing funding for Cardio3 BioSciences to start the FDA approved CHART-2 trial for C-Cure®. In addition, the funds will support the Company’s pipeline development and other general corporate purposes.
Others: * On July 1, 2014, Cardio3 BioSciences (C3BS), a leader in the discovery and development of advanced regenerative therapies for heart disease, announced the completion of a capital increase of €25 million at €44 a share initiated on 16 June 2014. The capital increase was fully subscribed on 16 June 2014 and occurred in two tranches of €12.5 million each. All new shares are subscribed for by Medisun International Limited, a investment holding company based in Hong Kong. As a result of this first investment, Medisun owns approximately 8% of the Company’s outstanding shares. * On June 16, 2014, Cardio3 BioSciences announced a fully committed capital increase of €25M in two tranches, at €44 a share, representing an approximately 14% premium to the last 30 days average price. The first tranche of €12.5M is effective today and the second tranche of €12.5M will complete on June 30 2014. All new shares will be subscribed for by Medisun International Limited, a private holding company based in Hong Kong, intending to build a life science portfolio and with whom Cardio3 BioSciences will team up to create a joint venture aimed at conducting pivotal clinical programs in China.
Medisun International Limited is incorporated in Hong Kong and is a group company of Medisun Holdings Limited (Medisun). As a result of the total investment, Medisun will own approximately 8% of the Company’s outstanding shares. The Company has undertaken to propose to its shareholders to appoint the chairman of Medisun International Limited, Mr Danny Wong, as a Director of Cardio3 BioSciences. The nomination will be proposed at its next shareholders meeting. Medisun has also committed to instruct a financial institution for the purchase of additional shares of Cardio3 BioSciences from existing shareholders for up to €25M over the next 8 months, at a price per share equivalent to the 10 days average preceding the offer(s).
Therapeutic area: Cardiovascular diseases
