Biocartis raises EUR100 million in successful public offering

The final offer price for the Offering has been set at EUR 11.50, giving the Company an initial market capitalization of EUR 450.2 million, or EUR 465.2 million, assuming the exercise in full of the Over-allotment option. Gross proceeds for the Company from the Offering amounted to EUR 100 million, or EUR 115 million, assuming the exercise in full of the Over-allotment Option.

More than EUR 650 million in demand was generated in the Offering. The order book has been built with strong local support both from institutional and retail investors, as well as a wide interest from a mix of long-term, specialist investors across continental Europe, the UK and the US.

“The closing of this Offering, a week ahead of schedule, at the top of the price range and more than EUR 650 million demand generated, underscores the strong belief in the potential of Biocartis and the appeal of our technology and strategy to institutional and retail investors, both in Belgium and internationally,” Rudi Pauwels, Chief Executive Officer of Biocartis, commented. “We are delighted with this enthusiasm, and want to thank all our new investors for their support.”

Hilde Windels, Managing Director and Chief Financial Officer of Biocartis, added: “This is a great testament to the quality of the science and technology at Biocartis and to the opportunities which precision medicine presents us. This successful fundraising gives us the support we need to deliver on these opportunities by ramping up our R&D and global commercial offerings for our unique Idylla system and we look forward to this exciting next stage in the Company’s development.”

Trading of Biocartis’ shares on the regulated market of Euronext Brussels under the symbol “BCART” will commence on 27 April 2015 (the "Listing Date"). Payment and delivery of the shares will occur on 28 April 2015.