News

Acticor Biotech strenghtens its financial structure

  • Issuance of convertible bonds into shares for an amount of 3.9 M to historical shareholders
  • Issuance of simple bonds with attached warrants to a new French investor for 2.0 M

    Paris, France, October 18, 2022 - 8:00 a.m. CEST - Acticor Biotech (Euronext Growth Paris - ISIN : FR0014005OJ5 – ALACT), a clinical-stage biotechnology company developing an innovative drug for the treatment of cardiovascular emergencies, announced today the issuance with cancellation of shareholders’ preferential subscription rights, (i) on the one hand 3.9 million in convertible bonds into new ordinary shares from the company’s historical shareholders, and (ii) €2 million in simple bonds with attached warrants from a French investment company.

    This transaction allows Acticor Biotech to strengthen its financial structure and to pursue the development of glenzocimab, its innovative drug candidate, for the treatment of cardiovascular emergencies, including ischemic strokes. The funds obtained from this transaction will be used to:

  • continue to enroll patients in ongoing clinical studies, in particular the ACTISAVE study (phase 2/3 registration) in stroke patients, which is being deployed in Europe and the United States of America;
  • prepare a new batch of glenzocimab required to continue the Company’s clinical development plan; and
  • to carry out the consultations with regulatory agencies and the work necessary for the registration of glenzocimab in Europe and the United States.

    In view of the nature of the transaction, the two bond issues do not give rise to the preparation of a prospectus subject to the approval of the Autorité des marchés financiers.

1) Issuance of convertible bonds into new shares for an amount of €3.9 million to historical shareholders

The first bond issue took the form of an issuance of 78,000 convertible bonds into new shares with a nominal value of 50 euros each, representing a total subscription amount of 3,900,000 euros (the "CB 2022").

The issue of CB 2022 was decided by the Board of Directors on October 17, 2022, which implemented the delegation of authority granted to the Board of Directors by the Combined General Shareholders’ Meeting of May 12, 2022 (the “Combined General Shareholders’ Meeting”) in its 13th resolution (Issuances with cancellation of the preferential subscription rights of shareholders in favor of categories of persons meeting certain characteristics) (the "13th Resolution”). The main characteristics of the CB 2022 are set out below.

MORE INFORMATION:

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  • Issuance of convertible bonds into shares for an amount of 3.9 M to historical shareholders
  • Issuance of simple bonds with attached warrants to a new French investor for 2.0 M

    Paris, France, October 18, 2022 - 8:00 a.m. CEST - Acticor Biotech (Euronext Growth Paris - ISIN : FR0014005OJ5 – ALACT), a clinical-stage biotechnology company developing an innovative drug for the treatment of cardiovascular emergencies, announced today the issuance with cancellation of shareholders’ preferential subscription rights, (i) on the one hand 3.9 million in convertible bonds into new ordinary shares from the company’s historical shareholders, and (ii) €2 million in simple bonds with attached warrants from a French investment company.

    This transaction allows Acticor Biotech to strengthen its financial structure and to pursue the development of glenzocimab, its innovative drug candidate, for the treatment of cardiovascular emergencies, including ischemic strokes. The funds obtained from this transaction will be used to:

  • continue to enroll patients in ongoing clinical studies, in particular the ACTISAVE study (phase 2/3 registration) in stroke patients, which is being deployed in Europe and the United States of America;
  • prepare a new batch of glenzocimab required to continue the Company’s clinical development plan; and
  • to carry out the consultations with regulatory agencies and the work necessary for the registration of glenzocimab in Europe and the United States.

    In view of the nature of the transaction, the two bond issues do not give rise to the preparation of a prospectus subject to the approval of the Autorité des marchés financiers.

1) Issuance of convertible bonds into new shares for an amount of €3.9 million to historical shareholders

The first bond issue took the form of an issuance of 78,000 convertible bonds into new shares with a nominal value of 50 euros each, representing a total subscription amount of 3,900,000 euros (the "CB 2022").

The issue of CB 2022 was decided by the Board of Directors on October 17, 2022, which implemented the delegation of authority granted to the Board of Directors by the Combined General Shareholders’ Meeting of May 12, 2022 (the “Combined General Shareholders’ Meeting”) in its 13th resolution (Issuances with cancellation of the preferential subscription rights of shareholders in favor of categories of persons meeting certain characteristics) (the "13th Resolution”). The main characteristics of the CB 2022 are set out below.

MORE INFORMATION:

https://uploads-ssl.webflow.co...