Nicox issues exchangeable bonds with acquisition of Eupharmed

By Jennifer Chiou

New York, Dec. 5 - Nicox SA announced the issue of 1,351,351 new shares and 1.5 million exchangeable bonds in connection with its previously announced acquisition of Eupharmed.

The bonds will be convertible under certain conditions into a maximum of 1.5 million Nicox shares.

The company announced on Nov. 26 its acquisition of the privately held Italian ophthalmic company for €3.5 million of newly issued Nicox shares plus a potential earn-out payment.

Fin Posillipo is acting as broker.

The €2.59 share price was determined using the average closing price for the 90 days immediately preceding Dec. 5, according to a press release.

The Sophia Antipolis, France-based company is focused on ophthalmology.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.