BioNTech to Raise USD 250 Million in Private Placement

The private placement includes an investment in ordinary shares and a investment in 4-year mandatory convertible notes

30-Jun-2020 - Germany

BioNTech SE announced a private investment of USD 250 million (EUR 223 million) by Temasek and other accredited investors. The private placement includes an investment of approximately USD 139 million in ordinary shares and a USD 112 million investment in 4-year mandatory convertible notes.

“We are pleased to welcome Temasek onboard as a new shareholder. We believe their long-term investment approach, global presence, and deep experience in the biotechnology field are a good fit with our vision to build a leading global biopharmaceutical company,” said Ugur Sahin, CEO and Co-founder of BioNTech.

Upon closing, private placement investors will receive 2,595,996 ordinary shares in BioNTech, which will be subject to a 180-day lock-up agreement. The 4-year mandatory convertible notes will come with a coupon of 4.5% per annum and a conversion premium of 20% above the reference price. The investment is expected to close in early- to mid-August, subject to customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security. The securities referenced herein have not been and will not be registered under the Securities Act of 1933, as amended (Securities Act), or applicable state securities laws and may not be offered or sold in the United States or any state thereof absent registration under the Securities Act and applicable state securities laws or an applicable exemption from registration requirements.

https://www.bionity.com/en/news/1166956/biontech-to-raise-usd-250-million-in-private-placement.html