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May 2018
Joint Global Coordinator & Joint Bookrunner
€ 77.5 million
Accelerated Bookbuild Offering


May 2018

Kempen is pleased to announce the successful EUR 77.5 million capital increase via an accelerated bookbuild offering by Mithra

Transaction highlights

  • The capital increase comprised 2.7m new shares representing 7.6% of Mithra’s pre-deal outstanding share capital, at a placement price of EUR 29.00 per share, generating EUR 77.5 million gross proceeds and representing the largest amount of money raised in an accelerated bookbuild offering this year for any European non-NASDAQ listed biotech company
  • Indications of interest received during a market sounding exercise with US and European life sciences specialist and generalist investors provided comfort to launch the transaction at a base size of EUR 60 million with potential to upsize
  • The accelerated bookbuilding process generated strong demand from investors, on the back of which the deal size was upsizedto EUR 77.5 million with a well covered orderbook
  • The top ten investors in the orderbook are allocated c.77% of the deal
  • Transaction proceeds are envisaged to be used to fund clinical development, give the company increased strategic and financial flexibility to further progress partnering discussions for the commercialization of Estelle and (co)development of Donesta and fund general corporate purposes
  • Last year, Kempen advised Mithra in its EUR 26.1 million capital increase via which c.3.1 million new shares were issued at a placement price of EUR 8.40 each

Company description

Mithra Pharmaceuticals is a company focused on the development, manufacturing and commercialisation of drugs and generic products dedicated to Women’s Health. Mithra specialises in four different domains: contraception and fertility, menopause and osteoporosis, gynecological infections and female cancers. Its two lead development candidates Estelle and Donesta are built on Mithra’s unique natural estrogen platform, E4 (Estetrol). Mithra also develops, manufactures and markets complex therapeutics and offers partners a complete spectrum of research, development and specialist manufacturing at its CDMO. The company is headquartered in Liège, Belgium


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