Image: Nicox.
Nicox S.A. the internatiol ophthalmic company, today announced a reserved capital increase of its ordinary shares to a specific category of investors. The gross proceeds from the financing are €26.25 million, for a total of 3,500,000 new ordinary shares.
Nocox said it intends to use the money to finance its research and development of pipeline candidates, working capital and general corporate purposes.
The share capital increase, by issuance of 3,500,000 new shares, was reserved for subscription by French or foreign companies or mutual funds investing in the pharmaceutical biotechnology sector as per the resolution from the May 30, 2017 extraordinary shareholder meeting.
The subscription price of the new shares has been set at €7.50 per New Share. The 3,500,000 new shares will represent around 13.6% of the issued share capital of the company before the capital increase and 12.0% after the capital increase.