OctoPlus launches equity offering
OctoPlus has launched a private placement of new ordinary shares, with an issue price of 0.75 euros each. To the extent the gross proceeds exceed 7.0 million euros ($9.0 million), the excess amount will be used to partially repay a 2.0 million-euro loan from major shareholder SR One. The remaining funds will be converted into new ordinary shares at an adjusted conversion price.
Life Sciences Partners, another major shareholder of OctoPlus that granted a further 2.0 million-euro loan, has also offered to convert the loan.As a result of the offering, the total number of ordinary shares outstanding, currently 16.2 million, will increase to around 31.5 million.
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