Transgene selling shares, warrants to raise €9.27 million

By Ted A. Knutson

Washington, June 20 -Transgene SA said it is launching a capital increase to raise an expected €9.27 million through the issuance of 4.5 million shares with warrants.

The subscription period will be from July 4 through July 8 with a pre-marketing period that started June 15 and ends July 1.

The subscription price will be at least the weighted average share price during the three trading days preceding the pricing, with a possible discount not exceeding 5%, plus the estimated value of the warrant. Shareholders will not have preemptive subscription rights and there is no priority subscription period.

Each share issued will carry a warrant. Two warrants will allow the holder to subscribe to one new share of the company.

Warrant holders will be able to subscribe to Transgene shares from the date of delivery of the warrants until July 17, 2006.

The exercise price will be 10% above the weighted average share price during the three trading days preceding the date the exercise price is set.

The subscription price of the shares and exercise price of the warrants will be set July 1 and will be announced in a news release on July 4 before the opening of trading on Eurolist by Euronext.

Transgene, a biopharmaceutical company based in Strasbourg, France, made the announcement in a 6-K filing with the Securities and Exchange Commission.

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