Targeted & controlled bone healing
13 Dec 18
Kuros announces final result of capital increase – total gross proceeds of 16.1 million raised

Not for release, publication or distribution in the USA, the United Kingdom, Canada, Japan, Australia or Member States of the European Economic Area ("EEA")

Kuros announces final result of capital increase – total gross proceeds of 16.1 million raised

Schlieren (Zurich), Switzerland, December 13, 2018 – Kuros Biosciences (SIX: KURN) (the Company or Kuros) announces the final number of offered shares and gross proceeds from the rights offering and share placement, first announced on November 29, 2018, in which a total of 8,013,306 new registered shares of Kuros sourced from the ordinary and authorized share capital with a nominal value of CHF 1.00 each were offered at an offer price of CHF 2.50 per share.

 

After completion of the share placement, 3,686,074 new registered shares for which subscription rights were not exercised were placed in the share placement to eligible institutional investors or others. Combined with the 2,769,608 new registered shares, which were validly subscribed for in the rights offering, the total number of new registered shares placed in the offering at the offer price of CHF 2.50 per share amounts to 6,455,682. Total gross proceeds raised from the capital increase amount to CHF 16.1 million.

 

As a result of the capital increase, Kuros’ share capital will increase from CHF 8,602,929 to CHF 15,058,611, divided into 15,058,611 registered shares with a nominal value of CHF 1.00 each.

 

With the gross proceeds raised in the capital increase, the commercialization of MagnetOs can be progressed as well as the phase 2 clinical study of the Company’s proprietary fibrin-PTH (KUR-113) product in spinal fusion can continue as planned.

 

The listing and first day of trading of the new registered shares on the SIX Swiss Exchange and the delivery of the new registered shares against payment of the offer price are expected to take place on December 18, 2018.



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

About Kuros

  1. Overview
  2. Executive Committee
  3. Board
  4. Careers

Products

  1. MagnetOs

Pipeline

  1. Pipeline
  2. Spinal fusion
    KUR-113
  3. Fracture repair
    KUR-111
    KUR-113
  4. Surgical Sealants
    Neuroseal (KUR-023)

Technologies

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

Partnerships

  1. Collaborations
  2. Business Development

Investors

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

News

  1. Press releases
  2. Conferences & Events

Contact

  1. Location
Article
13 Dec 18
Kuros announces final result of capital increase – total gross proceeds of 16.1 million raised

Not for release, publication or distribution in the USA, the United Kingdom, Canada, Japan, Australia or Member States of the European Economic Area ("EEA")

Kuros announces final result of capital increase – total gross proceeds of 16.1 million raised

Schlieren (Zurich), Switzerland, December 13, 2018 – Kuros Biosciences (SIX: KURN) (the Company or Kuros) announces the final number of offered shares and gross proceeds from the rights offering and share placement, first announced on November 29, 2018, in which a total of 8,013,306 new registered shares of Kuros sourced from the ordinary and authorized share capital with a nominal value of CHF 1.00 each were offered at an offer price of CHF 2.50 per share.

 

After completion of the share placement, 3,686,074 new registered shares for which subscription rights were not exercised were placed in the share placement to eligible institutional investors or others. Combined with the 2,769,608 new registered shares, which were validly subscribed for in the rights offering, the total number of new registered shares placed in the offering at the offer price of CHF 2.50 per share amounts to 6,455,682. Total gross proceeds raised from the capital increase amount to CHF 16.1 million.

 

As a result of the capital increase, Kuros’ share capital will increase from CHF 8,602,929 to CHF 15,058,611, divided into 15,058,611 registered shares with a nominal value of CHF 1.00 each.

 

With the gross proceeds raised in the capital increase, the commercialization of MagnetOs can be progressed as well as the phase 2 clinical study of the Company’s proprietary fibrin-PTH (KUR-113) product in spinal fusion can continue as planned.

 

The listing and first day of trading of the new registered shares on the SIX Swiss Exchange and the delivery of the new registered shares against payment of the offer price are expected to take place on December 18, 2018.