Innovation in bone healing and tissue repair
19 Jun 17
Kuros Biosciences launches rights and share offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA, NEW ZEALAND OR MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA")

 

Schlieren (Zurich), Switzerland, June 19, 2017

Kuros Biosciences launches rights and share offering

Kuros Biosciences (SIX:KURN) today announced that the Board of Directors determined the final structure and terms of its share placement. The Board decided to offer up to 1,612,330 shares within a price range of CHF 12.50 to CHF 15.50 per share. The gross proceeds, net of certain costs and expenses associated with the placement, will be used to prepare the commercialization of Kuros’ lead products MagnetOS and Neuroseal.

The placement will be conducted as an “at market” rights offering and a share offering for shares, for which rights were not exercised, subject to certain limitations based on residency. Existing shareholders will receive one subscription rights for each share held. Four subscription rights will grant the shareholder to purchase one new share. The cut-off date for the allocation of the subscription rights will be on June 20, 2017, after close of trading. The rights exercise period will start on June 21, 2017, and end on June 28, 2017, 12 noon. The share offering will start on June 21, 2017, and end on June 28, 2017, 4pm. The final number of new shares and the offer price are expected to be announced on or around June 29, 2017. In addition, Kuros granted a call option in order to place up to 100,000 additional new shares for the purpose of covering over-allotments made and enabling stabilisation measures.

 

The share offering involves a public offering in Switzerland and private placements to qualified institutional investors in certain jurisdictions outside Switzerland in compliance with applicable securities laws.

 

The settlement and first day of trading of the newly issued shares is expected to be on July 3, 2017.

 

Zürcher Kantonalbank, goetzpartners and Octavian are acting as Joint Placement Agents for Kuros in the offering.



Kuros Biosciences AG
Wagistrasse 25, 8952 Schlieren, Switzerland
Tel: +41 44 733 47 47   Fax: +41 44 733 47 40   Email: info@kuros.ch

About Kuros

  1. Overview
  2. Executive Committee
  3. Board

Products

  1. Pipeline
  2. Orthobiologics
    Fracture repair
    KUR-111
    KUR-113
    MagnetOs
    Spinal fusion
    KUR-113
    MagnetOs
    Solitary Bone Cysts
    KUR-112
  3. Sealants
    Neuroseal (KUR-023)

Technologies

  1. Overview
  2. Surface Science Technology
  3. Synthetic Cross-Linking Technology
  4. Fibrin-Based
  5. Immune Modulation
  6. Publications

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  1. Collaborations
  2. Business development

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  1. Share price
  2. Regulatory filings
  3. Reports & presentations
  4. Calendar
  5. Corporate governance
  6. Stay informed

News

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Article
19 Jun 17
Kuros Biosciences launches rights and share offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA, NEW ZEALAND OR MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA")

 

Schlieren (Zurich), Switzerland, June 19, 2017

Kuros Biosciences launches rights and share offering

Kuros Biosciences (SIX:KURN) today announced that the Board of Directors determined the final structure and terms of its share placement. The Board decided to offer up to 1,612,330 shares within a price range of CHF 12.50 to CHF 15.50 per share. The gross proceeds, net of certain costs and expenses associated with the placement, will be used to prepare the commercialization of Kuros’ lead products MagnetOS and Neuroseal.

The placement will be conducted as an “at market” rights offering and a share offering for shares, for which rights were not exercised, subject to certain limitations based on residency. Existing shareholders will receive one subscription rights for each share held. Four subscription rights will grant the shareholder to purchase one new share. The cut-off date for the allocation of the subscription rights will be on June 20, 2017, after close of trading. The rights exercise period will start on June 21, 2017, and end on June 28, 2017, 12 noon. The share offering will start on June 21, 2017, and end on June 28, 2017, 4pm. The final number of new shares and the offer price are expected to be announced on or around June 29, 2017. In addition, Kuros granted a call option in order to place up to 100,000 additional new shares for the purpose of covering over-allotments made and enabling stabilisation measures.

 

The share offering involves a public offering in Switzerland and private placements to qualified institutional investors in certain jurisdictions outside Switzerland in compliance with applicable securities laws.

 

The settlement and first day of trading of the newly issued shares is expected to be on July 3, 2017.

 

Zürcher Kantonalbank, goetzpartners and Octavian are acting as Joint Placement Agents for Kuros in the offering.