Liestal, Switzerland, December 2, 2015 -Santhera Pharmaceuticals (SIX: SANN) successfully completed the placement of shares which was announced yesterday. Santhera sold 590,000 new shares via a significantly oversubscribed accelerated bookbuilding process and raised gross proceeds of CHF 54.8 million. The shares were sold at a price of CHF 93.0 per share, a discount of 4.5% to the volume-weighted average price of December 1, 2015.
The new shares from the Company's authorized capital were sold by way of a private placement in Switzerland and abroad in accordance with applicable securities laws. Following this transaction, the number of issued shares increased by 590,000 shares to new 6,262,718 shares, representing a 10.40% increase of the Company's issued share capital. Trading of the new shares on the SIX Swiss Exchange is expected to commence on December 3, 2015 and the settlement of the new shares is expected to take place on December 4, 2015.
"The strong interest of new and existing investors is a sign of confidence in Santhera's potential and provided us with the financial resources to execute our development, regulatory and commercial activities as planned," said Christoph Rentsch, Chief Financial Officer.
Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical company focused on the development and commercialization of innovative pharmaceutical products for the treatment of orphan mitochondrial and neuromuscular diseases. Santhera's lead product Raxone® is authorized in the European Union for the treatment of Leber's hereditary optic neuropathy (LHON). Santhera develops Raxone®/Catena® in two additional indications, Duchenne muscular dystrophy (DMD) and primary progressive multiple sclerosis (ppMS), and omigapil for congenital muscular dystrophy (CMD), all areas of high unmet medical need. For further information, please visit the Company's website www.santhera.com.
Raxone® and Catena® are trademarks of Santhera Pharmaceuticals.