PIPE & Rights Issue
Abliva
Sole Global CoordinatorKempen & Co acted as Sole Global Coordinator to Abliva in its SEK 200m financing consisting of a SEK 150m PIPE and a SEK 50m Fully Guaranteed Rights Issue
Transaction highlights
- PIPE of 429,714,285 new shares at a subscription price of SEK 0.35 per share, generating gross proceeds of c. SEK 150m
- Fully Guaranteed Rights Issue of 146,547,924 new shares at a subscription price of SEK 0.35 per share (10% discount to closing price), generating gross proceeds of c. SEK 50m for which the subscription period will run from June 10th, until and including June 27th 2022
- The transaction is truly transformative for Abliva as it will more than double their market cap. The Company intends to use the net proceeds to fund the commencement and progression of a potentially registrational Phase 2/3 study for KL1333 in mitochondrial disease and to support the preparation of Abliva’s second asset, NV354, for the clinic
- Via the PIPE, Abliva welcomes new specialist biotech and institutional investors, including IP Group, a FTSE250 London-based science & technology investor with particular expertise in the global biotechnology industry, existing specialist life science investor Hadean Ventures, and OPF, a Norwegian institutional investor, along other international institutional investors
- Besides the transformative PIPE, this marks the second transaction where Kempen & Co has assisted a Life Sciences company with a so-called “Guaranteed Rights Issue”, thereby creating deal certainty for its clients even in very difficult market circumstances, and underpinning our ambition to serve our clients with a wide variety of tailormade financing structures
Company description
Abliva is a publicly listed Swedish biotech focused on the development of medicines for the treatment of primary mitochondrial diseases. These congenital, rare, and often very severe diseases occur when the cell's energy provider, the mitochondria, do not function properly. The company is focused on two projects. KL1333, a powerful NAD⁺/NADH modulator, is in clinical development and has been granted orphan drug designation in Europe and the US. NV354, an energy replacement (succinate) therapy, is in preclinical development.
Background Kempen & Co Life Sciences & Healthcare
In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
- Joint Global Coordinator & Joint Bookrunner in the SEK 150 million Fully Guaranteed Rights Issue by SynAct Pharma
- Co-Manager in the USD 700 million Capital Increase by argenx
- Sole Block Placing Agent in the placement of 1.4m Molecular Partners shares
- Joint Bookrunner in the USD 127 million Nasdaq IPO of Forbion European Acquisition Corp
- Co-Lead Manager in the USD 115 million Nasdaq Initial Public Offering by IO Biotech
- Lead manager in the USD 127 million Global Offering of Merus
- Joint Global Coordinator and Joint Bookrunner in the €31.5 million Euronext IPO by MaaT Pharma
- Co-Manager in the USD 460 million Capital Increase by Ascendis Pharma
- Joint Bookrunner in the SEK 324 million Capital Increase by Calliditas Therapeutics
- Joint Global Coordinator & Joint Bookrunner in the SEK 380 million Capital Increase by Xbrane Biopharma
- Joint Global Coordinator in the €34.1m Capital Increase by Transgene
- Joint Global Coordinator & Joint Bookrunner in the SEK 141 million Capital Increase by Immunicum
- Lead Manager in the USD 63.8 million Nasdaq Initial Public Offering by Molecular Partners
- Joint Bookrunner in the SEK 301 million Capital Increase by Q-linea
Contact
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Transactions
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Accelerated Bookbuild Offering
PIPE & Rights Issue
Rights Issue
Directed Share Issue to
Capital Increase & Spin-out
Global Accelerated Bookbuild Offering
to
Selling shareholder
Public takeover of
Sale of
Block Trade in Molecular Partners Shares
Real Estate Acquisition Financing
Undisclosed
by
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Initial Public Offering
US Public Offering
Placing
Capital Increase
US Public Offering
Sale to
Portfolio company of
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Mandatory Convertible Bond Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Capital increase
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
on Nasdaq
Initial Public Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Capital increase
Private Placement
US Public Offering
Initial Public Offering
US Public Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
Debt financing
US Public Offering
US Public Offering
Green Revolving Credit Facility
Sale to
Combination with
Accelerated Bookbuild Offering
Sale to
Accelerated Bookbuild Offering
Non-listed equity capital raising
Sale of majority stake to
Secondary Sell-Down in Calliditas Therapeutics
Capital increase
Initial Public Offering
Capital Increase
European FinTech
IPO
Accelerated Bookbuild Offering
Private Placement of shares in
Bridge financing
Undisclosed
Initial Public Offering
Rights issue
Accelerated Bookbuild Offering
US Public Offering
Accelerated Bookbuild Offering
Public Offering
Merger with Arya Sciences Acquisition Corp. and subsequent Nasdaq listing
acquisition of
Initial Public Offering
Private Placement
Private Placement
Accelerated Bookbuild Offering
Global Accelerated Bookbuild Offering
Accelerated bookbuild offering
Sale of 456 unit landmark residential project in prime location The Hague
acquired by
public offer for
Sale and capital increase
and
Sale of Dutch residential development to
Global Offering
Accelerated Bookbuild Offering
Public takeover of
Sale of
to
Accelerated Bookbuild Offering
Capital increase
Global offering
US public offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
Rights issue
a subsidiary of
Sale of German DIY portfolio to REDOS acting on behalf of Union Investment
Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
Three-day bookbuild offering
Rights issue
Acquisition of
Initial Public Offering
Accelerated Bookbuild Offering
Block trade in argenx shares
a subsidiary of
Sale of German retail portfolio to a real estate private equity firm
Sale of Dutch residential portfolio managed by
on behalf of investors to
Sale of
to
Bencis Capital Partners
Increase of stake in
Initial Public Offering
Acquisition of
Acquisition of
Acquisition of
Capital increase
Block trade in ERYTECH shares
Initial public offering
Accelerated bookbuild offering
Initial public offering
Acquisition of
Block trade in Boskalis shares
US public offering
US public offering
Sale to
US public offering
Sale of Rabo Bouwfonds CIF datacenter portfolio to
Initial public offering
Acquisition of former Delta Lloyd portfolio from
Rights issue
Public offer for
Fundraise
Accelerated bookbuild offering
Rights issue Public offer by German listed ADLER Real Estate
for Israeli listed
Public offer by German Vonovia
Accelerated bookbuild offering
Sale of Dynamic Portfolios
Public offer by Spanish Colonial
for Spanish Axiare Real Estate
Accelerated bookbuild offering
Sale of 3 German residential portfolios by
to consortium of buyers
US public offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Acquisition by
of
Acquisition of
by
Private placement
Acquisition by
of
Dutch wealth management activities
Acquisition by
of
from
Accelerated bookbuild offering
Initial public offering on NASDAQ
Share buy-back program
Acquisition by
of
Accelerated bookbuild offering
Public offer by
for
Public takeover by German Vonovia
For Austrian Conwert
Accelerated bookbuild offering
Rights issue
Sale of 19% stake in
Accelerated bookbuild offering
Acquisition of the North American rights to RUCONEST by
from
Acquisition by
of
from
Strategic study
Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
Strategic study
Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Management participation advisory in dual-track sale process
Refinancing
Initial Public Offering
Initial public offering
Rights issue
On behalf of
Acquisition of
Rights issue
Acquisition of French shopping centre portfolio by Wereldhave
From French-Dutch Unibail-Rodamco
Refinancing
Acquisition of the cancer immunotherapy program by
from
Initial public offering
Initial public offering
Public offer by French Groupe SMABTP
For French Société de la Tour Eiffel
Acquisition of
by
Secondary listing on Euronext Paris
Initial public offering
Acquisition by
of
Accelerated bookbuild offering
Convertible bond issue
Fairness opinion in the public offer by
Sale of Hercules business to ZEG
Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
undisclosed PE firm
from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
Equity issue
Refinancing
Sale of majority of shares to
Accelerated bookbuild offering
Initial public offering
Secondary offering
Accelerated bookbuild offering
Public offer by
for
Private placement
Public offer by
for
Accelerated bookbuild and private placement
Rights issue