By Jennifer Chiou
New York, July 11 - Transgene announced it raised €34.9 million from a shares with warrants offering, according to a 6-K filing with the Securities and Exchange Commission.
The company sold 4,657,500 actions à bon de souscription d'actions (ABSA) for €7.50 each, including a €4.55 million greenshoe.
Holders of the 4, 657,500 warrants will be able to purchase one preferred for two warrants from July 15, 2005 to July 17, 2006 at €8.05 for up to an additional €18.7 million.
The ABSA, placed mainly in France, Benelux, the United Kingdom, Switzerland and Germany, were oversubscribed 2.2 times.
Transgene issued its majority shareholder TSGH, which holds 52.75% of the share capital and 60.85% of voting rights before the capital increase, €5.2 million due to the oversubscription.
The €32.6 million net proceeds will help the development of its products in phase II trials.
"We are very satisfied with the success of the capital increase. It demonstrates renewed interest and confidence from investors in our company at a crucial time in the continued development of our product portfolio," said chief executive officer Philippe Archinard in a news release.
On June 20, Transgene launched a €9.27 million offer of shares with warrants.
Transgene, based in Strasbourg, France, is a biopharmaceutical company focused on therapeutic vaccines and immunotherapeutic products in oncology and infectious diseases.
| Issuer: | Transgene
|
| Issue: | Shares with one warrant
|
| Amount: | €34.9 million, including €4.55 million greenshoe
|
| Shares: | 4,657,500
|
| Price: | €7.50
|
| Warrants: | One half-share warrant per share
|
| Warrant expiration: | July 17, 2006
|
| Warrant strike price: | €8. 05
|
| Announcement dare: | July 11
|
| Stock price: | $3.10 at close on July 11
|
|
|
© 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.
