Global Bioenergies launches a private placement
The funds will be raised in accordance with Article L.411-2 II of the French Monetary and Financial Code (Code monétaire et financier) (the "Private Placement"), from domestic and international qualified investors, notably excluding Canada, Australia and Japan. They will be used to further the development of the isobutene process and to launch commercial roll-out.
The CM-CIC Investissement SCR and CM-CIC Innovation funds have undertaken, under certain conditions, to subscribe to the capital increase for a total of 18% of the funds to be raised, in an amount not to exceed €1.8 million, and at a maximum price of €25.5 per share. The FCPIs BioSanté 2013, BioSanté 2014, Masseran Innovation VI and Seventure Preference Innovation 2013
high-tech mutual funds have undertaken, under certain conditions, to subscribe to the capital increase for a total amount of €1.7 million, at a maximum price of €25.5 per share.
According to the terms of the eighth resolution of the Combined General Shareholders Meeting held on 3 June 2015, the issue price of the new shares will be at least equal to the weighted average price of the Company's share on the Euronext Paris Alternext market in the last three trading sessions prior to setting the issue price, which may be reduced by a maximum discount of 20%, within the limit of 17,5% of the Company's share capital, i.e. a maximum of 504 039 new shares.
Marc Delcourt, CEO at Global Bioenergies says: "The funds raised through this private placement will enable the Company to switch to full-scale commercial roll-out. We are expecting to sign several significant industrial agreements starting in 2016."
The Private Placement is being 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.
The final terms and results of the Private Placement will be announced as soon as possible.
This document may not be distributed, directly or indirectly, in or into the United States. This document is not an offer of securities for sale nor the solicitation of an offer to purchase securities in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from registration. The shares of the Company have not been and will not be registered under the U.S. Securities Act, and the Company does not intend to make a public offer of its securities in the United States.
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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