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Date: 2010-07-26
Company: Vivalis (France)
Investors: Groupe Grimaud La Corbière subscribed to this rights issue for an aggregate value of €15.7 million, through the exercise of the totality of its subscription rights. GLC will now hold a 51.9% stake in Vivalis.
Amount: €30,3 million
Planned use: The proceeds from the rights issue will support Vivalis’ objective to develop a portfolio of proprietary monoclonal antibody products as well as to provide Vivalis with the capacity to further industrialise the Humalex® discovery platform.
The €30 million that Vivalis raised with this transaction will principally (at a minimum of two-thirds of proceeds) serve to finance the development of a portfolio of proprietary products, which the company intends to commence in 2011, and to a lesser extent industrialize the Humalex® technology.
Other: Vivalis raised a total of over €30 million via a rights issue, launched on 2 July 2010. The final gross proceeds amount to €30.3 million through the issuance of 5,990,532 new ordinary shares.
Total demand for the rights issue amounted to approximately €34.3 million, reflecting a subscription rate of 113%.
5,788,102 new shares have been subscribed by irrevocable entitlement (souscription à titre irréductible), representing 96.6% of the new ordinary shares to be issued.
Subscription on a reducible basis (souscription à titre réductible)represented a demand for 996,442 new shares and was therefore partially allocated, through the issue of 202,430 new shares.

The new ordinary shares will be fungible with existing shares and will be traded on Euronext Paris. Vivalis’ ordinary share capital following the settlement of the rights issue will therefore be composed of 20,966,863 shares.