The placement price for its initial public offering (« IPO ») was set at EUR 19,00 per share. In total, 5,290,000 ordinary bearer shares with no par value were placed with investors in the IPO, which also included a U.S. tranche under Rule 144A of the U.S. Securities Act. The placement comprises 2,000,000 new shares from a capital increase against cash contributions, 1,600,000 secondary shares in a base deal and 1,000,000 secondary shares from the exercise of an upsize option by the major shareholder Paragon Partners as well as 690,000 secondary shares provided by Paragon Partners in connection with an over-allotment option, corresponding to a total placement volume of EUR 101 million. The existing shareholders, Paragon Partners and APONTIS PHARMA’s Management, will continue to hold 31% and 7% of the Company’s shares following the placement, respectively.
APONTIS PHARMA AG is a leading pharmaceutical company specializing in Single Pills in the German market. APONTIS PHARMA intends to use the net proceeds from the issuance of the new shares to primarily pursue selected investments in the development of new Single Pills, the acceleration of the development and licensing of its existing short-term product pipeline and the expansion of its marketing and sales activities to capture further market share as well as product acquisitions
McDermott provided comprehensive advice to all parties involved on capital market law issues. The McDermott team was also responsible for the pre-IPO corporate restructuring.
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