Evry, 20 September 2018 – Global Bioenergies (Euronext Growth: ALGBE) has today announced the launch of a capital increase by issuing new ordinary shares without pre-emptive rights for the benefit of qualified investors of about 10% of the capital, pursuant to the eighth resolution of the Combined General Meeting of 5 June 2018. The new shares will be the subject of an application for admission to trading on Euronext Growth Paris.
In accordance with Articles L.225-136 of the French Commercial Code and L.411-2 II of the French Monetary and Financial Code, the funds will be raised from qualified domestic and international investors, with the notable exception of the United States, Canada, Australia and Japan.
They 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 will be carried out by accelerated bookbuild, following which the number and price of the new shares to be issued will be determined. The accelerated bookbuild will commence immediately and is expected to close before the markets open on 21 September 2018, assuming that it does not close early and is not extended. The Company will announce the results of the operation in a press release as soon as the book is closed.
Under the terms of the eighth resolution adopted by the Company’s General Meeting on 5 June 2018, the issue price of the new shares will be at least equal to the weighted average price of the Company’s shares on the Euronext Growth Paris market for the last three trading sessions prior to it being set. It may be reduced by a maximum discount of 20%. The maximum number of new shares to be issued in connection with this operation would be around 10% of the share capital.
The private placement is being handled by Gilbert Dupont, acting as sole lead manager and bookrunner.
As Marc Delcourt, Chief Executive Officer of Global Bioenergies, explained: “These additional funds will help us accelerate our transition to commercial deployment”.
Disclaimer
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, will not require a prospectus to be submitted for approval to the AMF.
Before deciding whether to invest, investors should read about the risks in the 2017 Registration Document, in the section entitled “Risk factors”, available from the Global Bioenergies website (www.globalbioenergies-invest.com).
In France, the Global Bioenergies share offer described above will be conducted exclusively in the form of a private placement, in accordance with Article L.411-2 of the French Monetary and Financial Code and the applicable regulatory provisions. It does not constitute a public offer within the meaning of Article L.411-1 of the French Monetary and Financial Code.
Since it concerns the Member States of the European Economic Area which have transposed Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 (as amended in particular by Directive 2010/73/EU, to the extent that this Directive has been transposed in each of the Member States of the European Economic Area) (the “Prospectus Directive”), no action has been taken or will be taken to allow an offer to the public of the securities referred to in this press release, necessitating the publication of a prospectus in any of the Member States.
This press release and the information it contains do not constitute an offer to subscribe for or purchase, nor a solicitation to purchase or subscribe for, Global Bioenergies shares in the United States or in any other jurisdiction in which the operation may be subject to restrictions.
The securities may not be offered or sold in the United States in the absence of registration or exemption from registration under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), it being stipulated that Global Bioenergies shares have not been and will not be registered under the U.S. Securities Act and that Global Bioenergies does not intend to make an offer to the public of Global Bioenergies shares in the United States or in any other jurisdiction. The distribution of this press release may be subject to specific regulations in some countries. Persons in possession of this press release should be aware of and comply with any local restrictions.
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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