Santhera raises gross proceeds and secures acquisition of option to vamorolone sub-license

Santhera Pharmaceuticals Holding AG (SIX: SANN) has completed its ordinary capital increase with the placement of 3,133,334 new shares by way of an accelerated bookbuilding and raised gross proceeds of CHF 23.5 million. The proceeds will be used for the cash payment to complete the acquisition of the option for the exclusive sub-license to vamorolone.

On December 12, 2018, Santhera Pharmaceuticals Holding AG announced the launch of an ordinary capital increase of up to 5,000,000 registered shares with a nominal value of CHF 1 each to be offered through an accelerated bookbuilding.

After completion of the placement, a total of 3,133,334 shares were placed at CHF 7.50 per share. As a result of this transaction, Santhera's share capital will increase from CHF 7,527,479 to CHF 10,660,813, divided into 10,660,813 registered shares with a nominal value of CHF 1 each.

The Company intends to use the CHF-equivalent of USD 20 million of the net proceeds to pay the cash component of the consideration to Idorsia for the acquisition of the option for the exclusive sub-license relating to ReveraGen's vamorolone. After payment of this cash component, Santhera will have successfully completed the option acquisition, thereby securing its exclusive sub-licensing rights to vamorolone.

Subject to certain customary exceptions, the Company has agreed that, during the period ending 90 days after the first day of trading of the new shares, the Company shall not issue or sell any Santhera shares or securities convertible into or exchangeable or exercisable for Santhera shares or warrants or other rights to purchase Santhera shares.

The Company expects that the offered shares will be listed and admitted to trading on the SIX Swiss Exchange according to its International Reporting Standard on or around December 18, 2018. Payment and settlement is expected to take place on or around December 18, 2018.

To download the complete press release, follow this link: http://www.santhera.com/investors-and-media/investor-toolbox/capital-increase (country and other restrictions may apply).