Brief: Erytech Announces $30.0 Million Registered Direct Offering

Phaxiam Therapeutics SA

29/04/2021 07:51

April 29 (Reuters) - Erytech Pharma SA  ERYP.PA :
    * ERYTECH ANNOUNCES $30.0 MILLION REGISTERED DIRECT OFFERING
    * SUBSCRIPTION PRICE FOR ONE UNIT IS $29.00 (EUR 24.03),
CORRESPONDING TO $7.25 (EUR 6.01) PER ADS AND ASSOCIATED 0.75
WARRANT
    * EACH ADS REPRESENTS RIGHT TO RECEIVE ONE ORDINARY SHARE,
EUR
0.10 NOMINAL VALUE, OF COMPANY
    * WARRANTS HAVE AN EXERCISE PRICE OF EUR 7.50 ($9.05) PER
SHARE,
WILL BE IMMEDIATELY EXERCISABLE UPON ISSUANCE AND WILL EXPIRE
TWO YEARS FROM ISSUANCE DATE
    * CLOSING OF OFFERING IS EXPECTED TO OCCUR ON OR ABOUT MAY
4, 2021
    * ENTERED INTO DEFINITIVE AGREEMENTS WITH SEVERAL
HEALTH-CARE
FOCUSED INSTITUTIONAL AND ACCREDITED INVESTORS FOR PURCHASE AND
SALE OF 1,034,483 UNITS
    * EACH UNIT CONSISTING OF FOUR ORDINARY SHARES IN FORM OF
AMERICAN
DEPOSITARY SHARES (EACH AN "ADS") AND THREE WARRANTS, EACH TO
PURCHASE ONE ORDINARY SHARE (EACH A "WARRANT"), IN A REGISTERED
DIRECT OFFERING TO SPECIFIED CATEGORIES OF INVESTORS
    * INTENDS TO USE NET PROCEEDS FROM THIS OFFERING TO FUND
FURTHER
DEVELOPMENT OF ITS PRODUCTS CANDIDATES, INCLUDING COMPLETION OF
PHASE 3 TRYBECA-1 TRIAL AND COSTS TO PREPARE REGULATORY FILINGS,
AND FOR ASSOCIATED WORKING CAPITAL AND GENERAL CORPORATE
PURPOSES
    * 4,137,932 NEW ORDINARY SHARES UNDERLYING ADSS WILL RESULT
IN AN
IMMEDIATE CAPITAL INCREASE OF EUR 24,868,971.30

Source text for Eikon:  ID:nGNX5gLjs7 
Further company coverage:  ERYP.PA 

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