Brief: Mithra Pharmaceuticals Announces Details Of EUR 23.5 Mln Private Placement

Mithra Pharmaceuticals SA

21/06/2022 06:38

June 21 (Reuters) - Mithra Pharmaceuticals SA  MITRA.BR :
    * ANNOUNCES DETAILS OF EUR 23.5 MILLION PRIVATE PLACEMENT
    * RECEIVED SUBSCRIPTION COMMITMENTS FROM PROFESSIONAL,
QUALIFIED,
INSTITUTIONAL AND OTHER PRIVATE INVESTORS FOR AN AGGREGATE
AMOUNT OF EUR 23.5 MILLION
    * ISSUE PRICE OF EUR 6.07 PER SHARE, REPRESENTING A 5%
DISCOUNT TO
CLOSING SHARE PRICE ON FRIDAY 17 JUNE 2022
    * IN ADDITION TO THIS CAPITAL RAISING, MITHRA INTENDS TO
IMPLEMENT
MORE TRADITIONAL FINANCING STRUCTURES TO REPLACE FINANCING
FACILITIES CONCLUDED WITH GOLDMAN SACHS AND LDA CAPITAL
    * SETTLEMENT OF THE PRIVATE PLACEMENT AND ISSUANCE OF THE
NEW
SHARES ARE SUBJECT TO THE APPLICATION OF CUSTOMARY CORPORATE
PROCEDURES, WHICH ARE EXPECTED TO BE COMPLETED ON OR ABOUT
FRIDAY, 24 JUNE 2022
    * NET PROCEEDS: TO SUPPORT THE EXPENSES RELATED TO THE
ADDITIONAL
STUDIES LINKED TO THE PHASE III PROGRAM OF THE NEW GENERATION
HORMONE THERAPY PRODUCT CANDIDATE DONESTA
    * NET PROCEEDS: TO SUPPORT POST-AUTHORIZATION SAFETY STUDY
(PASS)
OF THE ESTELLE® CONTRACEPTIVE TREATMENT
    * NET PROCEEDS: TO FUND WORKING CAPITAL NEEDS, SUCH AS
PURCHASES
OF ACTIVE PHARMACEUTICAL INGREDIENTS (API) AND EXCIPIENTS FOR
THE SAFETY STOCK OF THE MYRING® HORMONAL CONTRACEPTIVE RING AND
ESTELLE® ORAL CONTRACEPTIVE PILL
    * PRIVATE PLACEMENT COMES IN ADDITION TO OTHER FINANCING
OPTIONS
THAT COULD POTENTIALLY BE IMPLEMENTED IN THE NEAR AND MEDIUM
TERM

Source text: https://bit.ly/3zMTiGd
Further company coverage:  MITRA.BR 

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