Brief: Advicenne Launches Capital Increase Of Around EUR 10 Mln

Advicenne SA

22/06/2021 17:22

June 22 (Reuters) - ADVICENNE SA  ADVIC.PA :
    * LAUNCHES A CAPITAL INCREASE
    * CAPITAL INCREASE BY WAY OF ACCELERATED ORDER BOOK
CONSTRUCTION
    * FOR AN AMOUNT OF EUR 10 MILLION
    * COMPANY INTENDS TO USE NET PROCEEDS TO FUND RESUMPTION OF
CLINICAL DEVELOPMENT OF SIBNAYALTM (ADV7103) IN PHASE III IN
DISTAL RENAL TUBULAR ACIDOSIS (DRTA) IN US
    * BELIEVES THAT ITS CURRENT CASH AND CASH EQUIVALENTS, PRIOR
TO
COMPLETION OF THE OFFER, WILL BE SUFFICIENT TO FUND ITS
OPERATIONS UNTIL OCTOBER 2021
    * ESTIMATES THAT IT WILL REQUIRE AN ADDITIONAL AMOUNT OF
APPROXIMATELY €10 MILLION TO FUND ITS FINANCING NEEDS OVER THE
NEXT TWELVE MONTHS
    * TAKING INTO ACCOUNT EXPECTED PROCEEDS OF OFFER, COMPANY'S
CASH
AND CASH EQUIVALENTS ARE EXPECTED TO BE SUFFICIENT TO FUND
OPERATIONS UNTIL JULY 2022
    * OFFER PRICE PER NEW SHARE, AS WELL AS FINAL NUMBER OF NEW
SHARES
WILL BE DETERMINED FOLLOWING AN ACCELERATED BOOKBUILDING
PROCEDURE STARTING IMMEDIATELY
    * ACCELERATED BOOKBUILDING TO BE COMPLETED BEFORE OPENING OF
TRADING ON EURONEXT PARIS ON 23 JUNE 2021

Source text for Eikon:  ID:nNDL3PFDXk 
Further company coverage:  ADVIC.PA 

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