Targeted & controlled bone healing
29 Nov 19
Kuros provides an update on the Capital Increase

Not for release, publication or distribution in the USA, the United Kingdom, Canada, Japan, Australia or Member States of the European Economic Area ("EEA").

Kuros provides an update on the Capital Increase

Schlieren (Zurich), Switzerland, November 29, 2019 – Kuros Biosciences (SIX: KURN) (the Company or Kuros) has obtained on November 28, 2019 after market close a binding order from Optiverder B.V., beneficially owned by Mr. C.A.C.M. Oomen, Delft, The Netherlands (the "Investor") for 2,818,718 Offered Shares at the subscription price of CHF 1.95 per Offered Share for an aggregate amount of CHF 5,496,500.10 (the "Investment") for the Share Offering. With this binding order, the Minimum Gross Proceeds of CHF 4 million required to complete the Offering have already been surpassed irrespective of the amount of Offered Shares that will be subscribed in the Rights Offering by existing shareholders during the Rights Exercise Period, which will end on December 2, 2019, 12:00 noon (CET).

 

The Company has decided to preferably allocate Offered Shares in the Share Offering to the Investor due to the Investor's early binding order, the size of its order and the signing of a lock-up of 90 days after the First Day of Trading by the Investor. The Company has further decided to fully allocate the Offered Shares required for the covering of the full Investment to the extent the number of Offered Shares available in the Share Offering is sufficient.

 

The exact number of Offered Shares sold in the Rights Offering will be published in the electronic media and by press release on December 2, 2019 after close of trading. The Company expects to publish the final number of Offered Shares sold in the Offering by a media release and in the Supplement on or around December 4, 2019. It is expected that the trading in the Offered Shares on the SIX Swiss Exchange will commence on December 6, 2019. Delivery of the Offered Shares against payment of the Offer Price will be made in book-entry form through the facilities of the SIS (or the Company's share register) on or around December 6, 2019.

 

Capitalized terms used in this press release have the meaning given to such terms in the offering and listing prospectus published by the Company on November 20, 2019.

 

Expected timetable

December 2, 2019:

12 noon CET: End of rights exercise period After close of trading: Announcement of number of Offered Shares for which Rights have been exercised and number of Offered Shares offered in the Share Placement

December 3, 2019:

15:00 (CET): End of Share Offering

December 4, 2019:

Board resolution on Capital Increase and publication of Supplement

December 6, 2019:

Listing of Offered Shares



Kuros Biosciences AG
Wagistrasse 25, 8952 Schlieren, Switzerland
Tel: +41 44 733 47 47   Fax: +41 44 733 47 40   Email: info@kurosbio.com

About Kuros

  1. Overview
  2. Executive Committee
  3. Board
  4. Careers

Products

  1. MagnetOs

Pipeline

  1. Pipeline
  2. Spinal fusion
    KUR-113
  3. Fracture repair
    KUR-111
    KUR-113
  4. Surgical Sealants
    Neuroseal (KUR-023)

Technologies

  1. Surface Science Technology
  2. Fibrin-Based
  3. Synthetic Cross-Linking Technology
  4. Immune Modulation

Partnerships

  1. Collaborations
  2. Business Development

Investors

  1. Share price
  2. Regulatory filings
  3. Reports & Presentations
  4. Analysts
  5. Calendar
  6. Corporate governance

News

  1. Press releases
  2. Conferences & Events

Contact

  1. Location
Article
29 Nov 19
Kuros provides an update on the Capital Increase

Not for release, publication or distribution in the USA, the United Kingdom, Canada, Japan, Australia or Member States of the European Economic Area ("EEA").

Kuros provides an update on the Capital Increase

Schlieren (Zurich), Switzerland, November 29, 2019 – Kuros Biosciences (SIX: KURN) (the Company or Kuros) has obtained on November 28, 2019 after market close a binding order from Optiverder B.V., beneficially owned by Mr. C.A.C.M. Oomen, Delft, The Netherlands (the "Investor") for 2,818,718 Offered Shares at the subscription price of CHF 1.95 per Offered Share for an aggregate amount of CHF 5,496,500.10 (the "Investment") for the Share Offering. With this binding order, the Minimum Gross Proceeds of CHF 4 million required to complete the Offering have already been surpassed irrespective of the amount of Offered Shares that will be subscribed in the Rights Offering by existing shareholders during the Rights Exercise Period, which will end on December 2, 2019, 12:00 noon (CET).

 

The Company has decided to preferably allocate Offered Shares in the Share Offering to the Investor due to the Investor's early binding order, the size of its order and the signing of a lock-up of 90 days after the First Day of Trading by the Investor. The Company has further decided to fully allocate the Offered Shares required for the covering of the full Investment to the extent the number of Offered Shares available in the Share Offering is sufficient.

 

The exact number of Offered Shares sold in the Rights Offering will be published in the electronic media and by press release on December 2, 2019 after close of trading. The Company expects to publish the final number of Offered Shares sold in the Offering by a media release and in the Supplement on or around December 4, 2019. It is expected that the trading in the Offered Shares on the SIX Swiss Exchange will commence on December 6, 2019. Delivery of the Offered Shares against payment of the Offer Price will be made in book-entry form through the facilities of the SIS (or the Company's share register) on or around December 6, 2019.

 

Capitalized terms used in this press release have the meaning given to such terms in the offering and listing prospectus published by the Company on November 20, 2019.

 

Expected timetable

December 2, 2019:

12 noon CET: End of rights exercise period After close of trading: Announcement of number of Offered Shares for which Rights have been exercised and number of Offered Shares offered in the Share Placement

December 3, 2019:

15:00 (CET): End of Share Offering

December 4, 2019:

Board resolution on Capital Increase and publication of Supplement

December 6, 2019:

Listing of Offered Shares