Evry, 21 January 2016 – Global Bioenergies (Alternext Paris: ALGBE) (the “Company”) today announces the successful completion of a private placement with qualified French and international investors. The Company placed 274,931 new shares at a par value of €0.05 per share, at a unit price of €23.70, including share premium, for a total of approximately €6.5 million amounting to 9.6% of the Company’s share capital
For information, the stake of a shareholder with 1% of the Company’s share capital prior to the issue will be brought to 0.91%.
The proceeds will be used to further the development of the Isobutene process and to launch commercial roll-out. Marc Delcourt, CEO at Global Bioenergies says: “The success of this transaction demonstrates investors’ confidence in our corporate strategy. The proceeds of the placement increase the Company’s unaudited cash to 16.5 million euros. They will enable the Company to fully transition into the commercial phase “.
The principle of the capital raising was authorized on 5 January 2016. The transaction was carried out pursuant to a Board decisions dated 20 January 2016 and 21 January 2016, in accordance with the authority granted to it by the eighth resolution of the Combined General Meeting of Shareholders on 3 June 2015. The subscription price represented a discount of 14.1% over the volume weighted average Company’s share price in the last three trading sessions prior to the issue.
The capital increase is by means of the issue of common shares without preferential subscription rights to qualified investors, in accordance with Article L. 411-2 II of the French Monetary and Financial Code (Code monétaire et financier). The new shares will carry entitlement to dividend rights and will be admitted to trading on the Euronext Paris Alternext market under ISIN code FR0011052257 – ALGBE. On settlement and delivery of the shares, Company’s share capital will comprise 3,145,128 shares.
The Private Placement is conducted by Gilbert Dupont (Paris) and Baader Bank AG (Munich) as joint lead managers and joint bookrunners. The issue does not require registration with the French financial markets authority (AMF) or publication of a prospectus.
Securities may not be offered or sold in the United States unless they have been registered pursuant to the 1993 U.S. Securities Act de 1933, as amended (“U.S. Securities Act”), or are exempt from the registration requirements of the U.S. Securities Act. The Company’s securities covered by this press release have not been and will not be registered under the U.S. Securities Act, and the Company does not intend to issue a public offering of the securities which are the subject of this press release in the United States.
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 performances of its process, operates its industrial pilot, has begun the construction of its demo plant in Germany, and is preparing the first full-scale plant through a joint venture with Cristal Union, named IBN-One. The company also replicated its achievement to propylene and butadiene, two members of the gaseous olefins family, key molecules at the heart of petrochemical industry. Global Bioenergies is listed on Alternext, Euronext Paris (FR0011052257 – ALGBE) and on the Alternext Oseo Innovation index.
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