Transgene Raises Euro 34.9 Million
11 Julio 2005 - 12:01PM
PR Newswire (US)
Transgene Raises Euro 34.9 Million STRASBOURG, France, July 11
/PRNewswire-FirstCall/ -- Transgene (Eurolist Paris : FR0005175080
- Nasdaq: TRGNY) announced today the results of its capital
increase in the form of an offering of shares with warrants
(actions a bon de souscription d'actions or ABSA). The company
raised a total of euro 34.9 million corresponding to the
subscription of 4,657,500 ABSA at euro 7.50. The capital increase
being oversubscribed 2.2 times, the 15% extension clause was put
into effect. The ABSA were placed mainly in France, Benelux, the
UK, Switzerland and Germany. The net proceeds of euro 32.6 million
will enable the company to continue the development of its products
in phase II trials. The 4,657,500 warrants issued through the ABSA
will enable holders, from July 15th 2005 to July 17th 2006, to
subscribe to 2,328,750 new shares at euro 8.05. An additional
amount of euro 18.7 million would be raised, by July 2006, in case
all warrants are exercised. Given the oversubscription, the
company's majority shareholder, TSGH, which held 70.32 % of the
share capital and 76.51% of voting rights before the capital
increase, was allocated an amount of euro 5.2 million. TSGH now
holds 52.75 % of the company's share capital and 60.85% of its
voting rights. The new shares as well as the warrants will be
listed separately on compartment C of Eurolist Paris starting on
July 19th 2005. "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 Philippe Archinard,
Chief Executive Officer of Transgene. "I am delighted with the
success of this capital increase which will enable Transgene to
continue its promising projects in the field of therapeutic
vaccines for cancers and infectious diseases," added Dr. Christophe
Merieux, Chairman of Transgene. Transgene, based in Strasbourg,
France is a biopharmaceutical company dedicated to the discovery
and development of therapeutic vaccines and immunotherapeutic
products in oncology and infectious diseases. Transgene has a broad
portfolio of clinical stage immunotherapy drugs. THE SECURITIES
REFERRED TO HEREIN HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED
UNDER REGULATION S UNDER THE SECURITIES ACT) UNLESS REGISTERED
UNDER THE SECURITIES ACT OR PURSUANT TO AN EXEMPTION FROM
REGISTRATION. DATASOURCE: Transgene CONTACT: Philippe Poncet, CFO,
+33-3-88-27-91-21, or Estelle Guillot-Tantay, or Tiphaine
Hecketsweiler, +33-1-53-70-74-70, all of Transgene
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