INVEST SECURITIES & INVEST CORPORATE FINANCE COMPLETE A PRIVATE PLACEMENT FOR €5.6 M OF THERACLION SHARES
Paris, 18 October 2017: A company listed on the Euronext Growth market of Euronext Paris, Theraclion specialises in innovative medical equipment dedicated to echotherapy. This capital increase will allow it to accelerate the commercial development of echotherapy, to pursue the efforts to access the Chinese and American markets and to accelerate the development of new indications like varicose veins.
This operation, in the form of a private placement, consists of the issuing of 989,113 new shares at the price of €4.22 per share for a total of €4.2 million. These new shares represent 15% of the total number of shares in circulation before settlement-delivery. The total number of shares making up the share capital of the company shall then be increased, after the issue, to 7,481,730.
It provides Theraclion with the means and flexibility to finance, in particular,:
– the acceleration of its commercial deployment in Germany and Hong Kong,
– the start of its deployment in China,
– the continuation of the clinical study in progress about the use of its Echopulse® system in the treatment of incompetence of superficial veins and perforating veins of the lower limbs (varicose veins) by non-invasive high-intensity focused ultrasound (HIFU),
– the continuation of the pivotal study in progress with a view to the marketing authorisation of the echopulse in the fibroadenoma indication in the United States
– participation in the first clinical study combining echotherapy and immunotherapy in the treatment of metastatic breast cancer.
At the same time as the private placement, the funds managed by Truffle Capital sold 349,302 Theraclion shares, namely 5.38% of the share capital in circulation before settlement-delivery of the private placement, to qualified investors by means of block sales at the price of the private placement, namely €4.22 per share.
In the framework of the reclassification of its securities, Truffle Capital has undertaken to refrain from any sale of shares of the Company, except block sales off-market and with the prior, written permission of Invest Securities, during a period of 12 months from the date of settlement-delivery of the private placement, namely until 19 October 2018.
Jean-Emmanuel Vernay, Chief Executive of Invest Securities, explained: “We are very happy to have successfully completed this operation for Theraclion, which we have assisted since its stockmarket listing whose considerable progress we note in the broadening of therapeutic applications. We are delighted about the arrival of recognised investors during this operation”.
Executives involved in the transaction
Lead Arranger and Bookrunner: Invest Securities (Pascal Hadjedj)
Financial Adviser: Invest Corporate Finance (Jean-Emmanuel Vernay, Sami Berhouma)
THERACLION press release: