Amsterdam Molecular Therapeutics (AMT) Announces € 2.5 Million Equity Raise
Published: Jan 03, 2012
AMSTERDAM, December 30, 2011 /PRNewswire/ --
Amsterdam Molecular Therapeutics (Euronext: AMT), a leader in the field of human gene therapy, announced today that the Company has raised 2.5 million in new equity by means of a private placement to three of its existing shareholders: Forbion Capital Partners, Gilde Healthcare Partners and Advent Venture Partners.
Under the terms of the transaction, AMT has agreed to issue 7,352,938 new shares at a price of 0.34 per share, being the closing price on December 29, 2011, when the shares were placed. The proceeds of this issue will provide additional flexibility to further explore its strategic options to secure the financial stability of the Company. The proceeds do not eliminate the Company's negative equity position, which will continue after completion of the equity raising, which is expected to take place on or around January 4, 2012, and the Company's financial prospects remain as described in the announcement of December 15, 2011.
As a result of the private placement, the Company's issued share capital will amount to 31,051,454 shares.
Pursuant to the Financial Supervision Act (Wet op het financieel toezicht) there is no obligation to publish a prospectus approved by the Netherlands Authority for the Financial Markets (Autoriteit Financiele Markten) in relation to the equity raising or the admission of the new shares to trading on NYSE Euronext in Amsterdam. The Netherlands Authority for the Financial Markets does not supervise the equity raising or the admission of the new shares to trading on NYSE Euronext in Amsterdam.
About Amsterdam Molecular Therapeutics
AMT is a world leader in the development of human gene based therapies. AMT has a product pipeline of several gene therapy products in development for hemophilia B, acute intermittent porphyria, Parkinson's disease and SanfilippoB. Using adeno-associated viral (AAV) derived vectors as the delivery vehicle of choice for therapeutic genes, the company has been able to design and validate probably the world's first stable and scalable AAV manufacturing platform. This proprietary platform can be applied to a large number of rare (orphan) diseases caused by one faulty gene and allows AMT to pursue its strategy of focusing on this sector of the industry. AMT was founded in 1998 and is based in Amsterdam. Further information can be found at http://www.amtbiopharma.com.
Certain statements in this press release are "forward-looking statements" including those that refer to management's plans and expectations for future operations, prospects and financial condition. Words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify such forward-looking statements. Such statements are based on the current expectations of the management of AMT only. Undue reliance should not be placed on these statements because, by their nature, they are subject to known and unknown risks and can be affected by factors that are beyond the control of AMT. Actual results could differ materially from current expectations due to a number of factors and uncertainties affecting AMT's business. AMT expressly disclaims any intent or obligation to update any forward-looking statements herein except as required by law.
SOURCE Amsterdam Molecular Therapeutics (AMT) B.V