VectivBio slides on equity raise

VectivBio Holding AG

15/06/2022 13:55

** Shares of VectivBio Holding AG  VECT.O  down 15.8% at $5
premarket after co raises equity
    ** Swiss biopharma late Tues sold 5.7 mln shares at $5.25
for $30 mln gross raise  urn:newsml:reuters.com:*:nGNX1ZPYw7
    ** Public offering prices at 11.6% discount to stock's last
sale
    ** Co also sells ~3.5 mln shares at $5.75 for $20 mln in
PIPE (private investment in public equity) to Forbion Capital
Partners 
    ** Co to use net proceeds from both transactions to fund
clinical development/pre-commercialization activities for lead
product candidate apraglutide, its drug to treat rare
gastrointestinal diseases
    ** VECT has ~36.6 mln shares outstanding and ~33.6 mln of
free float, per Refinitiv data
    ** SVB Secs and Piper Sandler acted as jt bookrunners for
public offering and advised on the PIPE
    ** Shares have gained 21% YTD through Tues close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))