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NiCox Closes Out €100M Fund with €70M Discounted Rights

By Cormac Sheridan


Wednesday, December 23, 2009

NiCox SA completed the second leg of a two-part fundraising effort that has yielded gross proceeds of about €100 million (US$143.2 million), by raising €69.9 million in a discounted rights offering. The rights issue comprised 20,042,031 new shares, priced at €3.49 per share. The company's closing share price immediately before the Nov. 25 launch of the offer was €7.05, although it subsequently dropped well below that level. The stock closed Monday at €5.54. (BioWorld International)

 

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