Cellectis Receives €20.5 M in Commitments in Private Placement from U.S. Biotechnology Specialist Institutional Investors
Published on March 31, 2014
Paris, France, March 25, 2014 - Cellectis SA (Alternext: ALCLS.PA) today announced it has received commitments for a capital increase of €20,520,000 from U.S. biotechnology institutional investors.
Cellectis will issue a total of 4,000,000 new shares at a price of €5.13 per share, above last closing sale price and at no discount to the 5-day VWAP.
The financing was led by OrbiMed Advisors and included venBio, Ridgeback Capital Management, Aquilo Capital Management and Merlin Nexus, among others.
Use of proceeds
The proceeds of the transaction will be used for the acceleration of innovation in T cells genome engineering in order to provide them with new properties and the enhancement of the structures and function of antigenic chimeric receptor (CAR), and the self-developments of the company’s proprietary T cell CAR portfolio dedicated to the treatment of leukemia and solid tumors.
Terms of the capital increase
The capital increase was carried out without preferential subscription rights for the benefit of investors defined in article L.411-2 II of the French monetary and financial code (qualified investors and/or small circle of investors), in accordance with article L. 225-136 of the French commercial code and with the 11th resolution of Cellectis’s general meeting of shareholders held on June 14, 2013.
The capital increase represents approximately 19% of the capital of the Company to date and a dilution to existing shareholders of approximately 16%.
The settlement of the new shares shall take place (subject to usual market conditions) no later than the early days of April.
Admission to listing of the new shares
The new shares, with a nominal value of € 0.05, will be common shares and will be listed on the same line as the existing of the company under ISIN code FR0010425595. They will carry the same dividend rights as the existing shares and will be entitled, after issuance, to all dividends declared by the company from that date.
About OrbiMed
OrbiMed is a leading investment firm dedicated exclusively to the healthcare sector, with approximately $10 billion in assets under management. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies. OrbiMed's team of more than 80 employees manages a series of private equity funds, public equity funds, royalty/debt funds and other investment vehicles. OrbiMed maintains its headquarters in New York City, with additional offices in San Francisco, Shanghai, Mumbai and Herzliya.