ARTICLE | Financial News

Addex proposes CHF40M private placement

February 17, 2018 12:20 AM UTC

Addex Therapeutics Ltd. (SIX:ADXN) proposed Thursday to raise up to CHF40 million ($42.7 million) through the sale of 12.8 million shares at CHF3.43 in a private placement. The company said CHF30 million of the offering has been committed by New Enterprise Associates, New Leaf Venture Partners, CAM Capital and clients of Herculis Partners and Semper Finance Group.

Investors will also receive seven-year warrants to purchase shares at CHF3.43. The company will ask shareholders to vote on the offering in March. ...