June 8, 2017 / 2:39 PM / 4 months ago

BRIEF-Targovax contemplates private placement of new shares

June 8 (Reuters) - TARGOVAX ASA

* CONTEMPLATES PRIVATE PLACEMENT OF NEW SHARES

* NEW SHARES DIRECTED TOWARDS NORWEGIAN AND INTERNATIONAL INVESTORS WITH GROSS PROCEEDS OF APPROXIMATELY NOK 175 - 225 MILLION

* NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO FINANCE FIVE ADDITIONAL DATA READ-OUTS FROM CLINICAL TRIALS THROUGH 2018, IN ADDITION TO THREE PLANNED DATA-READ OUTS IN H2 2017

* NET PROCEEDS WILL ALSO FINANCE SELECTIVE CMC DEVELOPMENT IN PREPARATION FOR FUTURE PIVOTAL CLINICAL STUDIES

* SUBSCRIPTION PRICE IN PRIVATE PLACEMENT WILL BE DETERMINED THROUGH AN ACCELERATED BOOKBUILDING PROCESS

* BOOKBUILDING PERIOD FOR PRIVATE PLACEMENT WILL COMMENCE TODAY 8 JUNE 2017 AT 16:30 HOURS (CET) AND CLOSE ON 9 JUNE 2017 AT 08:00 HOURS (CET) Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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