AC Immune Announces Price of USD 11.75 for Offerings and Issuance of up to 10 Million Common Shares
July 18 2018 - 7:17PM
Lausanne, Switzerland, July 19, 2018 - AC
Immune SA (NASDAQ: ACIU), a Swiss-based, clinical-stage
biopharmaceutical company focused on neurodegenerative diseases,
today announced the price per common share of USD 11.75 for the
offerings of up to 10 million new common shares of the Company. The
offering price will be the same for all three offerings, the
details of which were published yesterday, namely:
- The first subscription rights offering;
- The primary offering; and
- The second subscription rights offering.
An aggregate of 7,391,305 shares were sold in
the first subscription rights offering and primary offering. The
Company expects gross proceeds from the offerings, before deducting
the underwriter discounts and commissions and other offering
expenses, to be approximately USD 86.8 million, excluding any
exercise of the underwriters' option to purchase additional shares.
The underwriters in the primary offering have an option to purchase
an additional 1,108,695 shares.
The Company plans to use the proceeds from the
offerings primarily to fund research and development expenses for
the Company's clinical and pre-clinical research and development
activities, for working capital and the remainder for general
corporate purposes.
The second subscription rights offering will
consist of up to 1.5 million newly issued common shares.
The subscription period for the first
subscription rights offering to exercise preemptive subscription
rights expired on July 18, 2018, at 4:00 p.m. (New York City time).
The subscription period for the second subscription rights offering
to exercise preemptive subscription rights will commence at 3:00
a.m. (New York City time) on July 20, 2018, and will expire at 4:00
p.m. (New York City time) on July 27, 2018. Preemptive subscription
rights not validly exercised within the applicable subscription
period will lapse and become null and void without
compensation.
Delivery of the new common shares of the Company
against payment of the offering price is expected to be made on or
about July 23, 2018, for the first subscription rights offering and
the primary offering, and on or about July 31, 2018, for the second
subscription rights offering.
Jefferies LLC, Leerink Partners LLC and UBS
Investment Bank are acting as joint book-running managers for the
first subscription rights offering and the primary offering.
H.C. Wainwright & Co. is acting as lead manager for these
offerings.
The first subscription rights offering and the
primary offering were made pursuant to an effective shelf
registration statement of the Company previously filed with the
U.S. Securities and Exchange Commission. These offerings may be
made only by means of a prospectus supplement and the accompanying
prospectus. Copies of the final prospectus supplement for these
offerings, when available, may be obtained from: Jefferies, LLC
Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, by
emailing Prospectus_Department@Jefferies.com; Leerink Partners LLC,
Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, MA 02110 or by email at syndicate@leerink.com, or by
calling (800) 808-7525 ex. 6132; or from UBS Investment Bank,
Attention Prospectus Department, 1285 Avenue of the Americas, New
York, NY 10019 or by email at ol-prospectusrequest@ubs.com, or by
calling (888) 827-7275.
The second subscription rights offering will be
made pursuant to an effective shelf registration statement of the
Company previously filed with the U.S. Securities and Exchange
Commission. This offering may be made only by means of a prospectus
supplement and the accompanying prospectus. Copies of the
preliminary prospectus for this offering, when available, may be
obtained from the Company in writing at AC Immune SA, EPFL
Innovation Park Building B, 1015 Lausanne, Switzerland or via
telephone by calling +41 21 345 91 21.
The offerings, each sale and purchase of new
common shares of the Company and each exercise of preemptive
subscription rights in the first subscription rights offering and
the second subscription rights offering, are subject to market and
other conditions and the restrictions set forth in the Company's
articles of association and may be subject to certain restrictions
under applicable laws and regulations. There can be no assurance as
to whether or when the offerings may be completed or as to the
actual size or terms of the offerings.
Any eligible shareholder interested in
participating in the second subscription rights offering should
contact Georgeson, acting as information agent, by calling +1 (888)
613-9817 (toll free) or +1 (781) 575-2137 prior to the expiration
of the subscription period for the second subscription rights
offering. For this offering, eligible shareholders will be sent
additional documentation through Computershare or the banking
system.
DisclaimerThis press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of any securities, in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. This press
release is not a prospectus within the meaning of article 652a of
the Swiss Code of Obligations, nor is it a listing prospectus of
any exchange or regulated trading facility in Switzerland. Copies
of this press release may not be sent to jurisdictions, or
distributed in or sent from jurisdictions, in which this is barred
or prohibited by law.
About AC ImmuneAC Immune is a
clinical-stage Swiss-based biopharmaceutical company, listed on
Nasdaq, which aims to become a global leader in precision medicine
for neurodegenerative diseases. The Company designs, discovers and
develops therapeutic as well as diagnostic products intended to
prevent and modify diseases caused by misfolding proteins.
For further information, please
contact:
In EuropeBeatrix BenzAC Immune Corporate Communications
Phone: +41 21 345 91 34E-mail: beatrix.benz@acimmune.com
|
In the USLisa SherAC Immune Investor Relations Phone: +1 970
987 26 54E-mail: lisa.sher@acimmune.com |
Nick Miles/Toomas KullCabinet Privé de Conseils s.a.Phone: +41 22
552 46 46 E-mail: miles@cpc-pr.com kull@cpc-pr.com |
Ted AgneThe Communications Strategy Group Inc.Phone: +1 781 631
3117E-mail: edagne@comstratgroup.com |
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