Biophytis announces the launch of a rights issue with maintenance of shareholders’ preferential subscription rights to continue the execution of its strategic roadmap
- Public offering of ABSARs: new shares with redeemable share subscription warrants (BSARs)
- Subscription price: €0.0093 per new share each with a subscription warrant
- Subscription ratio: 3 ABSARs for 8 existing shares
- Trading period for the preferential subscription rights: from October 26, 2023 to November 9, 2023 inclusive
- Subscription period: from October 30, 2023 to November 13, 2023 inclusive
- Subscription commitments: €1,960,000 or 75% of the issue
Biophytis is announcing the terms of a rights issue set to raise around €2.6 million. It is structured as an issue of shares with redeemable share subscription warrants (ABSARs) with maintenance of shareholders’ preferential subscription rights. The size of the issue may be increased to around €3 million if the extension option is exercised in full, based on the Third Resolution of the Shareholders’ General Meeting of April 17, 2023 (the “Offering”).
Subscription commitments of €1.96 million made notably by Stanislas Veillet, Biophytis’ founder and its Chairman and Chief Executive Officer, as well as by other investors, guarantee that this issue will go ahead. Amid the current challenging environment for the industry, the issue’s guarantee arrangements represent a genuine success, proving the market’s continuing confidence in Biophytis’ development prospects.
For further information about the terms and conditions of the offering, please consult the relevant page: