TiGenix will issue 55 million new shares at the current share price, accounting for a capital injection of 50 million euros.
Almost a year after the announcement of its plans for an IPO, Tigenix finally goes for it! In the coming weeks, the biotech company will present itself in a roadshow across the US.
It took so long, due to insecurities at the stock market. In March, it nevertheless was a close call. With positive study results for its flagship product Cx601 (stem cell therapy for the treatment of perianal fistulas, ed), it seemed the logical next step. But, nevertheless, the operation was canceled.
"In the US, the interest in IPOs of biotech companies is currently low," said CEO Eduardo Bravo back then. Instead, the company fueled 24 million via a private investor.
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Now, Tigenix wants to acquire more money via an IPO on Nasdaq. The exact amount depends on the enthusiasm of investors. Their interest will determine at which price the shares will be marketed.
Tigenix will be listed on Nasdaq in the form of an ADS certificate under the symbol TIG. Each certificate will represent 20 shares. In this way, Tigenix avoids that you can buy shares for only a couple of cents. On Euronext Brussels, the share price on Monday settled at 0.91 euros.
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