Kiadis Pharma raises c.EUR 28 million in a private placement of c.3.7 million new shares
Amsterdam, The Netherlands, May 31, 2019 - Kiadis Pharma N.V. ("Kiadis Pharma" or the "Company") (Euronext Amsterdam and Brussels: KDS), a clinical-stage biopharmaceutical company, today announces that it has raised gross proceeds of EUR 27.6 million through a private placement of 3,684,200 new shares to institutional investors via an accelerated bookbuilding process as announced on May 30, 2019 (the "Placing"). The Placing was completed at a subscription price of EUR 7.50 per share and represented approximately 15% of the issued share capital of the Company prior to the transaction. The new ordinary shares will rank pari passu in all respects with the currently outstanding shares of the Company and are expected to be listed and traded on Euronext Amsterdam and Euronext Brussels on June 4, 2019. Following the Placing, the issued share capital of the Company will consist of 28,050,942 ordinary shares.
Following the Company's announcement on 17 April 2019 of its intention to acquire US-based CytoSen Therapeutics, Inc. ("CytoSen") in an all share deal, Kiadis Pharma intends to use the net proceeds of the Placing to:
Progress Kiadis' ATIR101 development, including the furtherance of Phase III trials, preparing for potential commercialization in Europe, and expanding ATIR manufacturing capacity
Progress CytoSen's pipeline products as well as general corporate purposes and other working capital needs
The new shares will be admitted to trading on Euronext Amsterdam and Euronext Brussels on the basis of a listing prospectus, consisting of a registration document and a securities note, which will submitted to the Netherlands Authority for the Financial Markets (AFM) with a view to receiving its approval on or about Friday May 31, 2019, following which it will be made available free of charge on the Company's website (www.kiadis.com).
Jefferies International Limited ("Jefferies") acted as Sole Global Coordinator. Jefferies and Piper Jaffray & Co. acted as Joint Bookrunners.