March 2, 2020 / 9:22 AM / a month ago

BRIEF-AB Science Announces New Fundraising Of 12.3 Million Euros

March 2 (Reuters) - AB SCIENCE SA:

* REG-AB SCIENCE ANNOUNCES A NEW FUNDRAISING OF EUR 12.3 MILLION

* EUR 6.40 MILLION RAISED THROUGH A PRIVATE PLACEMENT OF 860,220 NEW ORDINARY SHARES AT A PRICE OF EUR 7.44, REPRESENTING A 5.5% PREMIUM ON LAST CLOSING PRICE

* EUR 1.23 MILLION RAISED THROUGH THE EXERCISE OF 449,014 WARRANTS (INITIALLY SUBSCRIBED IN CONNECTION WITH THE AUGUST 2019 PRIVATE PLACEMENT)

* SETTLEMENT-DELIVERY OF NEW ORDINARY SHARES IS EXPECTED TO TAKE PLACE AT LATEST ON MARCH 6, 2020

* PRICE OF PRIVATE PLACEMENT WAS SET AT EUR 7.44 PER SHARE, EQUAL TO VOLUME WEIGHTED AVERAGE PRICE OF LAST TWO TRADING DAYS PRECEDING PRICING DATE

* EUR 4.70 MILLION RAISED THROUGH IMPLEMENTATION OF FINANCING AGREEMENT PUT IN PLACE TO PRE-FINANCE 2019 RESEARCH TAX CREDIT

* INTENDS TO PRIMARILY USE NET PROCEEDS FROM TRANSACTIONS DESCRIBED ABOVE TO FUND COMPANY’S GENERAL NEEDS AND FINANCE ITS CLINICAL DEVELOPMENT PROGRAM

* THE NEW ORDINARY SHARES EXPECTED TO BE ADMITTED TO TRADE ON REGULATED MARKET OF EURONEXT PARIS UNDER EXISTING ISIN SECURITIES IDENTIFICATION CODE FOR AB SCIENCE’S ORDINARY SHARES AT LATEST ON MARCH 6, 2020

* NET PROCEEDS TO COMPANY FROM TRANSACTIONS ARE ESTIMATED TO BE AROUND EUR 12.0 MILLION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below