Ablynx successfully raises €41.7 million
Ablynx announces that it has raised €41,720,822 through a private placement of new shares via an accelerated book building procedure announced on 30 June 2014.
The private placement has allowed Ablynx to place 4,908,332 new shares with domestic and international institutional investors at a price of €8.50 per share, a 5.56% discount to the previous day's closing price. The new shares represent 10% of the current number of outstanding shares and will bring the total number of shares after the issue to 53,991,659. The new shares will be admitted to trading on Euronext Brussels following their issuance, which is expected to take place on 3 July 2014.
The funds will be used by Ablynx:
- to allow flexibility in the choices regarding further development of the Company's currently fully-owned clinical assets caplacizumab (anti-vWF) and ALX-0171 (anti-RSV);
- to continue to build momentum with Nanobodies® targeted to immune check-point inhibitors and accelerate the development of such assets both in wholly-owned programmes and with partners;
- to initiate, continue to advance, and/or accelerate the pre-clinical and clinical development of wholly- and co-owned programmes to further expand the Company's diverse portfolio of programme assets; and
- for general corporate purposes.
Jefferies International Limited, KBC Securities NV and Kempen & Co N.V. acted as Joint Bookrunners for the placement.
Most read news
Organizations
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.