Genmab have announced that it has raised gross proceeds of DKK 998 million following pricing of its previously announced private placement. Genmab will isuue 4,600,000 new shares with a nominal value of DKK 1 each at a price of DKK 217 per share.
Potential uses for the net proceeds from the transaction may include, among other things, and without limiting Genmab’s discretion, the funding of:
Clinical development of HuMax
TF-ADC (currently in a Phase I study in eight solid tumors)
Progressing Genmab’s pipeline of pre-clinical projects towards clinical development
Further development of Genmab’s proprietary technologies, the DuoBody® platform and HexaBody platform
Potential complimentary acquisitions of new products, technologies or businesses that would further expand Genmab’s capabilities and product portfolio
General corporate purposes to support the development of Genmab’s pipeline and business
The new shares to be issued as a result of the private placement represent approx. 8.9 % of Genmab’s registered share capital before the capital increase. Following the capital increase, Genmab will have a registered nominal share capital of DKK 56,355,722 divided into 56,355,722 shares of DKK 1 each. Registration of the capital increase with the Danish Business Authority is expected to take place on January 29, 2014. Genmab’s updated articles of association will be published separately and made available at Genmab’s website, www.genmab.com.
The settlement date, on which the new shares will be delivered to the investors against payment, is expected to be January 29, 2014. The settlement is subject to customary closing conditions.
Expected date of admission for trading and official listing of the new shares is January 30, 2014. The new shares will be admitted to trading and official listing under the existing ISIN securities identification code for Genmab’s shares.