AB Science announces the success of its capital raise for a total amount of 15 million euros

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AB SCIENCE ANNOUNCES THE SUCCES OF ITS CAPITAL RAISE FOR A TOTAL AMOUNT OF 15.0 MILLION EUROS

·10.5 million euros raised through a private placement and accelerated book-building procedure, without discount, at a price of 14.42 euros per ordinary share.

 

·This private placement triggers the conversion of the convertible bonds announced on October 29, 2020 with a nominal value of 4.5 million euros.

         

Paris, France – December 21, 2020
AB Science (the “Company” or “AB Science”, Euronext – FR0010557264 – AB) announces a capital raise of 10.5 million euros by way of issuance of 728,156 new ordinary shares (the “New Shares”). The capital raise was subscribed by European and north American qualified investors (the “Capital Raise”).

This Capital Raise did not and will not require the publication of a prospectus subject to the approval of the Autorité des marchés financiers (“AMF”).

Use of proceeds

The Capital Raise will allow AB Science to strengthen its financial position in order to fund the development of its clinical research program and increase its financing runway beyond the next 12 months.

 

Terms of the Capital Raise

The New Shares have been placed, without shareholders’ preferential subscription rights, by means of a private placement to qualified investors pursuant to the 25^th resolution of the combined ordinary and extraordinary general meeting of the shareholders of the Company held on August 31, 2020 (the “General Meeting”) and pursuant to Article L. 225-136 of the French Commercial Code.

The issue price of one New Share is 14.42 euros, issue premium included, equal to the volume weighted-average price of the Company’s shares over the last three trading days, consistent with the 25^th resolution of the General Meeting.

The Company’s shareholding structure after the Capital Raise

Following the issuance of the New Shares, the Company’s share capital will be 521,167.99 euros, equal to 52,116,799 shares (including 45,539,935 ordinary shares listed on Euronext Paris) with a par value of 0.01 euro, representing 101.42% of the total current share capital of the Company.