Biocartis successfully raises Eur 80 million in an equity placement

Biocartis Group NV, an innovative molecular diagnostics company, announces that it successfully raised an amount of EUR 80 million in gross proceeds by means of a private placement via an accelerated bookbuild offering of 6.4 million new shares (being approximately 14.33% of the Company’s outstanding shares) at an issue price of EUR 12.50 per share (the “Offering”).

Ewoud Welten, Chief Financial Officer of Biocartis, commented: “The significant amount raised in private placement is an important milestone for Biocartis in securing funds for the further execution of its plans. We were pleased to see a bookbuilding process that combined solid demand from existing shareholders with strong interest from new local and international institutional investors wanting to invest. We see the support expressed by investors as a complement to our teams and partners, both working on making personalized medicine an everyday reality.”

Biocartis currently envisages using the net proceeds to fund the expansion of the Idylla™ test menu and applications, its sales and marketing activities, the ongoing increase of its cartridge manufacturing capacity, and working capital and other general corporate purposes.

J.P. Morgan, Degroof Petercam, KBC Securities and Kempen acted as Joint Bookrunners in the Offering.

In relation to the Offering, the Company has agreed with the Joint Bookrunners to a market customary 180 days standstill period on future share issuances, waivable by the Joint Bookrunners.

The payment and delivery of the new shares is expected to take place on 1 December 2017, and an application will be made to admit the new shares to trading on the regulated market of Euronext Brussels at the same time. The new shares to be issued will have the same rights and benefits as, and rank pari passu in all respects with, the existing and outstanding shares of Biocartis at the moment of their issuance.

As a result of the issuance of new shares, the Company’s share capital will increase from EUR 446,697.72 to EUR 510,697.72 and its issued and outstanding shares will increase from 44,669,772 to 51,069,772 ordinary shares.


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