(CercleFinance.com) – Sartorius Stedim Biotech announces having successfully placed 5,150,215 shares with institutional investors, as part of an international private placement through the construction of an accelerated order book.
The new shares will be issued as part of a capital increase with removal of the preferential subscription rights at a price of 233 euros per share, i.e. a gross amount of 1.2 billion euros before deduction of commissions and expenses.
The group intends to use the net proceeds from the fundraising to accelerate its deleveraging beyond its internal cash generation and strengthen its strategic flexibility. Settlement and delivery is expected to take place on or around February 9.