(CercleFinance.com) – Advicenne announces the launch of a capital increase by issuing new ordinary shares (the “New Shares”) with maintenance of shareholders’ preferential subscription rights (the “DPS”) of an initial amount of 6.0 ME which can be increased to 6.9 ME in the event of full exercise of the extension clause.
The Capital Increase takes place through the issue of 2,489,287 New Shares at a unit price of E2.41, representing a face discount of 27.4% compared to the closing price of the Advicenne share on September 8 2023 (3.32 E), which can be increased to 2,862,680
New Shares in the event of exercise of the Extension Clause.
Funds will be allocated as follows:
– approximately 40% for the commercial development of Sibnayal®, particularly in France and the United Kingdom where Advicenne markets it directly;
– approximately 40% to the optimization of the development of ADV7103, both industrial and clinical;
– finally, 20% for the financing needs of the Company’s current activities.
This Capital Increase ensures the financing of Advicenne’s cash flow needs anticipated at least until mid-2025 if the Capital Increase is completed at 100% and at least until the first quarter of 2025 in the case of 75% completion.