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Sep 2019
mdx health
Sole Bookrunner
€ 9.0 million
Accelerated Bookbuild Offering


Sole Bookrunner

Kempen is pleased to announce that it acted as Sole Bookrunner in MDxHealth’s capital increase via accelerated bookbuild offering of €9.0 million

Transaction highlights

  • Issuance of 10,589,236 shares, 17.7% of MDxHealth’s pre-deal outstanding share capital
  • Offer price was set at €0.85 per share, representing an 8.6% discount to the closing price of the previous day 
  • Gross proceeds amounted to €9.0 million and will be used to support the Company's strategy to grow the business by expanding the adoption of the Company's commercial test menu with urologists and payors, as well as for general corporate purposes
  • Initial roadshows after its half year results indicated firm support for the Company and pre-deal market sounding allowed the accelerated bookbuilding process to generate demand from existing shareholders as well as new institutional investors, leading to an upsizing of the transaction from the envisaged 15% of pre-deal outstanding share capital to 17.7%
  • This transaction builds on the long-standing relationship between MDxHealth and Kempen, which started with its Euronext IPO in 2006 and marks the tenth Life Sciences capital markets transaction Kempen has executed this year

Company description

MDxHealth is a multinational healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The Company's tests are based on proprietary genetic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis of urologic cancers, prognosis of recurrence risk, and prediction of response to a specific therapy. The Company's European headquarters are in Herstal, Belgium, with laboratory operations in Nijmegen, The Netherlands, and US headquarters and laboratory operations based in Irvine, California.

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