June 23, 2017 / 5:35 AM / a month ago

BRIEF-Gensight biologics raises 22.5 million euros

1 Min Read

June 23 (Reuters) - GENSIGHT BIOLOGICS SA:

* ‍SUCCESSFULLY RAISES EUR 22.5 MILLION FROM LEADING INVESTORS IN US AND EUROPE​

* OPERATION OVERSUBSCRIBED AND ALLOWED THE COMPANY TO UPSIZE THE OFFERING TO €22.5 MILLION AT A PRICE OF €6.00 PER SHARE‍​

* ‍PRICE REPRESENTS A DISCOUNT OF 5.4% TO VOLUME WEIGHTED AVERAGE PRICE OF COMPANY'S SHARES OVER LAST 3 TRADING DAYS BEFORE PRICING​

* ‍FUNDS RAISED WILL BE ALLOCATED TO PREPARE LAUNCH OF GS010 IN EUROPE AND UNITED STATES​

* 3,750,000 NEW SHARES, REPRESENTING APPROXIMATELY 19% OF ISSUED SHARE CAPITAL OF COMPANY

* ‍NET PROCEEDS WILL STRENGTHEN CASH POSITION OF COMPANY WHICH AMOUNTED TO EUR 48.8 MILLION ON MARCH 31, 2017​

* ‍NET PROCEEDS WILL ENHANCE COMPANY'S FINANCIAL VISIBILITY UNTIL Q1 2019​ Source text: bit.ly/2s25YlV Further company coverage: (Gdynia Newsroom)

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