ERYTECH Announces Launch of Proposed Global Offering and NASDAQ Listing
All securities to be sold in the Global Offering will be offered by
ERYTECH. ERYTECH's ordinary shares are listed on Euronext Paris under
the symbol "ERYP". ERYTECH has applied to list its ADSs on the
The offering price is expected to be between
The ADSs and/or ordinary shares will be issued through a capital
increase without shareholders’ preferential subscription rights under
the provisions of Article L. 225-138 of the French Commercial Code (Code
de Commerce) and pursuant to the twenty-ninth and thirtieth
resolutions of the Company's combined general shareholders' meeting held
on
Certain of ERYTECH's existing shareholders have expressed an interest in purchasing ADSs and/or ordinary shares in the Global Offering. Indications of interest are not binding agreements or commitments to purchase and the underwriters in the Global Offering may therefore determine to sell more, fewer or no ADSs and/or ordinary shares in the Global Offering to any of these investors. Similarly, any of these investors may eventually determine, including depending on the offering price, to purchase more, fewer or no ADSs and/or ordinary shares in the Global Offering. It is possible that, as a result of the foregoing, these investors may end up purchasing a number of ADSs and ordinary shares representing significantly more than half of the total number of ADSs and/or ordinary shares being offered. The underwriters for the Global Offering will receive the same commissions on any ADSs and/or ordinary shares purchased by these investors as they will on any other ADSs and/or ordinary shares sold to other investors in the Global Offering.
The closing of the offer of ADSs and the private placement of ordinary shares comprising the Global Offering will occur simultaneously, and is expected to occur on or about two trading days after the pricing and allocation of the Global Offering.
The Company expects to use the net proceeds from the Global Offering as follows :
-
approximately €42
($50) million to conduct its planned pivotal Phase 3 clinical trial of eryaspase for the treatment of second-line metastatic pancreatic cancer inthe United States andEurope ; -
approximately €17
($20) million to conduct its planned pivotal Phase 3 clinical trial of eryaspase as a first-line treatment of Acute Lymphoblastic Leukemia ("ALL"); -
approximately €17
($20) million to advance the development of eryaspase and potential follow-on products for other indications; -
approximately €4
($5) million to fund overall development of its ERYCAPS platform technology and other preclinical development programs; and - the remainder, if any, for working capital and other general corporate purposes.
The securities referred to in this release are to be offered only by
means of a prospectus. When available, copies of the preliminary
prospectus relating to and describing the terms of the Global Offering
may be obtained from
A registration statement on Form F-1 relating to these securities has
been filed with the
Application will be made to list the new ordinary shares to be issued
pursuant to the Global Offering on the regulated market of
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Forward-looking information
This press release contains forward-looking statements, forecasts and
estimates with respect to the proposed Global Offering, ERYTECH's
clinical development plans, business and regulatory strategy, and
anticipated future performance of ERYTECH and of the market in which it
operates. Certain of these statements, forecasts and estimates can be
recognized by the use of words such as, without limitation, “believes”,
“anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”,
“may”, “will” and “continue” and similar expressions. They include all
matters that are not historical facts. Such statements, forecasts and
estimates are based on various assumptions and assessments of known and
unknown risks, uncertainties and other factors, which were deemed
reasonable when made but may or may not prove to be correct. Actual
events are difficult to predict and may depend upon factors that are
beyond ERYTECH's control. There can be no guarantees with respect to
pipeline product candidates that the candidates will receive the
necessary regulatory approvals or that they will prove to be
commercially successful. Therefore, actual results may turn out to be
materially different from the anticipated future results, performance or
achievements expressed or implied by such statements, forecasts and
estimates. Documents filed by ERYTECH with the French Autorité des
Marchés Financiers and the U.
Disclaimer
This announcement does not, and shall not, in any circumstances
constitute a public offering nor an invitation to solicit the interest
of the public in
The distribution of this document may, in certain jurisdictions, be restricted by local legislations. Persons into whose possession this document comes are required to inform themselves about and to observe any such potential local restrictions.
This announcement is not an advertisement and not a prospectus within
the meaning of Directive 2003/71/EC of the European Parliament and of
the Council of
With respect to the member States of the European Economic Area, no action has been undertaken or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any relevant member State. As a result, the securities may not and will not be offered in any relevant member State except in accordance with the exemptions set forth in Article 3(2) of the Prospectus Directive or under any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article 3 of the Prospectus Directive and/or to applicable regulations of that relevant member State.
This document does not constitute an offer to the public in
This document is only being distributed to, and is only directed at,
persons in the
This document does not constitute an offer of securities for sale nor
the solicitation of an offer to purchase securities in
NOT FOR DISTRIBUTION IN
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Source:
ERYTECH
Naomi Eichenbaum
+33 4 78 74 44 38
+1
917 312 5151
Director of Investor Relations
naomi.eichenbaum@erytech.com
or
The
Ruth Group
Lee Roth, +1 646 536 7012
Investor
relations
lroth@theruthgroup.com
or
Kirsten
Thomas, +1 508 280 6592
Media relations
kthomas@theruthgroup.com
or
NewCap
Julien
Perez
Investor relations
or
Nicolas Merigeau
Media
relations
+33 1 44 71 98 52
erytech@newcap.eu