Evry, 21 September 2018 – Global Bioenergies (Euronext Growth: ALGBE) has today announced that its private placement with qualified investors was a success. The Company has placed 560,694 new shares with a par value of €0.05 and a unit price of €11.13, including the share premium, for a total of approximately €6.2 million, representing 12.4% of the Company’s share capital after the operation.
As Samuel Dubruque, Chief Financial Officer of Global Bioenergies, explained: “We would like to thank the investment funds that placed or maintained their trust in us for this operation”.
Marc Delcourt, Chief Executive Officer of Global Bioenergies, added: “Our innovation comes closer to industrial maturity and will impact the economic and environmental landscape”.
The funds raised will be used to complete the development of the Isobutene programme for the first generation of substrates and to continue work on the next two generations.
The operation was authorised by the decisions of the Board of Directors and Chief Executive Officer of 20 and 21 September 2018, pursuant to the eighth resolution adopted by the Company’s General Meeting on 5 June 2018, and at a price representing a discount of 20.0% relative to the weighted average prices of the last three (3) trading sessions preceding the launch of the operation and a discount of 18.3% relative to the closing price on 20 September 2018 (€13.62).
The capital increase involves issuing ordinary shares without pre-emptive rights as part of a private investment for the benefit of qualified domestic and international investors. The settlement and delivery of the new shares and their admission to trading on the Euronext Growth Paris market are scheduled for 25 September 2018.
The new shares will have immediate dividend rights and will be admitted to trading on the Euronext Growth Paris market with the ISIN FR0011052257 – ALGBE.
The Company’s share capital, amounting to €253,972.75, will be composed of 5,079,455 shares after settlement and delivery.
As a guide, the percentage interest of a shareholder who owns 1% of the Company’s share capital prior to the issue will in future be 0.89%.
The private placement was handled by Gilbert Dupont, acting as sole lead manager and bookrunner.
In accordance with Article 211-3 of the General Regulation of the Autorité des Marchés Financiers (AMF), the offer of the Company’s shares in connection with this capital increase, conducted in the form of a private placement, did not require a prospectus to be submitted for approval to the AMF.
Investors should read about the risks in the 2017 Registration Document, in the section entitled “Risk factors”, available from the Global Bioenergies website.
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the performance of its process, to operate its demo plant in Germany, and to prepare the first full-scale plant through a joint venture with Cristal Union, named IBN-One. Global Bioenergies is listed on Euronext Growth Paris (FR0011052257 – ALGBE).
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