GenSight Biologics raises €25M in private placement

October 22, 2020 12:30 AM Eastern Daylight Time

PARIS--BUSINESS WIRE --Regulatory News: GenSight Biologics (Paris:SIGHT) (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible) (the "Company"), a biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, announces today the success of its previously announced capital increase. The transaction was led by Arix Bioscience plc (LON: ARIX), Invus and Sofinnova Partners.

The Company has issued 5,954,650 new ordinary shares with a nominal value of €0.025 each (the "New Shares"), for total gross proceeds of approximately €25 million by means of an accelerated bookbuilding process to the benefit of categories of persons (the "Reserved Offering"). The book was oversubscribed, based on demand from new and existing investors.

The issue price of the New Shares is €4.20 per share, representing a 12.5% discount to the volume weighted average of the share prices on Euronext Paris for the last five trading sessions preceding the date on which the issuance price is set (ie., October 15, 16, 19, 20 and 21, 2020), in accordance with the 19th resolution of the combined annual general meeting of shareholders of the Company held on April 29, 2020.

Read the full press release here