3 February 2023
Led by Frankfurt partners Dr Lars-Gerrit Lüßmann and Ulrich Reers, Taylor Wessing has legally advised Formycon AG on a capital increase by executing an accelerated bookbuilding. In this context it was decided to increase the share capital of the company by 910,000.00 euros to 16,038,775.00 euros with issuing 910,000 new shares.
Following this bookbuilding process, which was conducted via private placement, the Formycon Management Board, based on the approval of the Supervisory Board, has determined a placement price of 77.00 euros per new share, resulting in gross issue proceeds of approximately 70 million euros before commissions and expenses. The New Shares represent approximately 6% of the Company's currently issued share capital. The transaction´s closing and delivery of the new shares as well as inclusion in trading is expected for February 7, 2023.
Formycon is a leading, independent developer of high-quality biopharmaceutical medicines, especially biosimilars. Formycon AG is listed in the Open Market ("Scale") of the Frankfurt Stock Exchange (ISIN: DE000A1EWVY8 / WKN: A1EWVY).
On the banking side the transaction was accompanied by Jefferies and Hauck Aufhäuser Lampe.
Taylor Wessing Germany: Dr Lars-Gerrit Lüßmann, Ulrich Reers (both joined lead, both Partner), Tobias Kraut (Senior Associate), Dr Fabian von Rabenau (Associate) (all Corporate / Capital Markets, Frankfurt a.M.)
Norton Rose Fulbright: For the banks Dr Frank Regelin ( Frankfurt a.M.)
Notary: Dr Damian Najdecki (Munich)