Accelerated bookbuild offering
€ 55.5 million
Joint Bookrunner
;

Biocartis

Joint Bookrunner

Kempen is pleased to announce that it acted as Joint Bookrunner in the €55.5 million capital increase via an accelerated bookbuild offering by Biocartis

Transaction highlights

  • Placement of 5 million new shares, c. 10% of Biocartis’ outstanding share capital, at a placement price of €11.10 per share, representing a 7.5% discount to the previous day closing price
  • Indications of interest received during a limited market sounding exercise with existing shareholders and potential new investors resulted in a close to covered orderbook for the base deal size of c. €45 million at transaction launch
  • The accelerated bookbuilding process generated strong demand from long-only Life Sciences specialist and generalist investors as well as momentum players, resulting in a multiple times covered orderbook, on the back of which the offering was upsized by c. 22% to €55.5 million
  • Transaction proceeds are envisaged to fund the expansion of the Idylla™ test menu and applications, and further investments in commercial activities, manufacturing, and other corporate purposes
  • Kempen co-led Biocartis’ Euronext Brussels IPO in 2015 and has since always been involved in its equity capital markets transactions, thereby continuously supporting the company in its outreach to the investor community

Company description

Biocartis (Euronext Brussels: BCART) is an innovative molecular diagnostics (MDx) company providing next generation diagnostic solutions aimed at improving clinical practice for the benefit of patients, clinicians, payers and industry. Biocartis’ proprietary MDx Idylla™ platform is a fully automated sample-to-result, real-time PCR (Polymerase Chain Reaction) system that offers accurate, highly reliable molecular information from virtually any biological sample in virtually any setting. Biocartis is developing and marketing a rapidly expanding test menu addressing key unmet clinical needs in oncology. Today, Biocartis offers tests supporting melanoma, colorectal and lung cancer.

Contact

Jan De Kerpel

Transactions