Intercell completes 96.5 M-euro offering
Austrian vaccine developer Intercell AG says that it has completed the placement of 7.8 million of primary and secondary shares of its common stock on the Vienna stock exchange. The firm added that proceeds from the offering of the 4,736,835 new shares were 58.5 million euros ($74.8 million), at an offer price of 12.36 euros per share.
In addition to the new stock, 3,068,165 shares provided by management, employees and funds managed by private equity firms such as MVM Capital, TVM Capital, Star Ventures and Alpinvest were also part of the offering, resulting in a total volume of 96.5 million euros.
Intercell said that it intends to use the proceeds to fund further growth of its product pipeline, expansion of its manufacturing capabilities and for general corporate purposes. Trading of the newly-issued shares is expected to start on July 4.
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