Proceeds used to invest in projects with financial upside potential
By Devika Patel
Knoxville, Tenn., April 25 - OctoPlus NV said it settled a €3.16 million private placement of shares with OGBB A. van Herk BV.
The company sold 7.9 million shares at €0.40 each. The price per share is identical to the April 24 closing share price. The shares will be issued in two tranches of 3 million shares and 4.9 million shares. The second tranche is contingent on shareholder approval at the company's annual general meeting on June 13.
Proceeds will be used for working capital and to invest in projects with financial upside potential.
OctoPlus is a Leiden, Netherlands-based pharmaceutical company.
| Issuer: | OctoPlus NV
|
| Issue: | Shares
|
| Amount: | €3.16 million
|
| Shares: | 7.9 million
|
| Price: | €0.40
|
| Warrants: | No
|
| Investor: | OGBB A. van Herk BV
|
| Announcement date: | April 25
|
| Stock symbol: | Amsterdam: OCTO
|
| Stock price: | €0.40 at close April 24
|
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