Biocartis Group NV (the “Company” or “Biocartis”), an innovative molecular diagnostics company (Euronext Brussels: BCART), announces today that it successfully raised an amount of EUR 55.50 million in gross proceeds by means of a private placement via an accelerated bookbuild offering of 5,000,000 new shares (being approximately 9.73% of the Company’s outstanding shares) at an issue price of EUR 11.10 per share (the “Offering”).
Ewoud Welten, Chief Financial Officer of Biocartis, commented: “Today’s oversubscribed private placement further strengthens the capitalisation of Biocartis. We are pleased to see that even in challenging market conditions, both existing and new international institutional investors continue to support Biocartis in the further execution of its business plan. That is a great motivator to our teams and partners as well as a strong recognition of the progress that Biocartis has made over the last year.”
Biocartis currently envisages using the net proceeds to fund the expansion of the Idylla(TM) test menu and applications, its sales and marketing activities, further investments in its cartridge manufacturing capacity, and for working capital and other general corporate purposes.
Joh. Berenberg, Gossler & Co. KG (“Berenberg”), KBC Securities SA/NV (“KBC Securities”) and Kempen & Co N.V. (“Kempen”) acted as Joint Bookrunners in the Offering.
In relation to the Offering, the Company has agreed with the Joint Bookrunners to a market customary 90 days standstill period on future share issuances, waivable by the Joint Bookrunners subject to customary exceptions.
The payment and delivery of the new shares is expected to take place on 28 January 2019, and an application will be made to admit the new shares to trading on the regulated market of Euronext Brussels at the same time. The new shares to be issued will have the same rights and benefits as, and rank pari passu in all respects with, the existing and outstanding shares of Biocartis at the moment of their issuance.
As a result of the issuance of new shares, the Company’s share capital will increase from EUR 513,610.88 to EUR 563,610.88 and its issued and outstanding shares will increase from 51,361,088 to 56,361,088 ordinary shares.
Note
Biocartis (Euronext Brussels: BCART) is an innovative molecular diagnostics (MDx) company providing next generation diagnostic solutions aimed at improving clinical practice for the benefit of patients, clinicians, payers and industry. Biocartis’ proprietary MDx Idylla(TM) platform is a fully automated sample-to-result, real-time PCR (Polymerase Chain Reaction) system that offers accurate, highly reliable molecular information from virtually any biological sample in virtually any setting. Biocartis is developing and marketing a rapidly expanding test menu addressing key unmet clinical needs in oncology. This area represents the fastest growing segment of the MDx market worldwide. Today, Biocartis offers tests supporting melanoma, colorectal and lung cancer. More information: www.biocartis.com. Follow us on Twitter: @Biocartis_.
