Schlieren (Zurich), Switzerland, December 13, 2018 – Kuros Biosciences (SIX: KURN) (the Company or Kuros) announces the final number of offered shares and gross proceeds from the rights offering and share placement, first announced on November 29, 2018, in which a total of 8,013,306 new registered shares of Kuros sourced from the ordinary and authorized share capital with a nominal value of CHF 1.00 each were offered at an offer price of CHF 2.50 per share.
After completion of the share placement, 3,686,074 new registered shares for which subscription rights were not exercised were placed in the share placement to eligible institutional investors or others. Combined with the 2,769,608 new registered shares, which were validly subscribed for in the rights offering, the total number of new registered shares placed in the offering at the offer price of CHF 2.50 per share amounts to 6,455,682. Total gross proceeds raised from the capital increase amount to CHF 16.1 million.
As a result of the capital increase, Kuros’ share capital will increase from CHF 8,602,929 to CHF 15,058,611, divided into 15,058,611 registered shares with a nominal value of CHF 1.00 each.
With the gross proceeds raised in the capital increase, the commercialization of MagnetOs can be progressed as well as the phase 2 clinical study of the Company’s proprietary fibrin-PTH (KUR-113) product in spinal fusion can continue as planned.
The listing and first day of trading of the new registered shares on the SIX Swiss Exchange and the delivery of the new registered shares against payment of the offer price are expected to take place on December 18, 2018.
About Kuros Biosciences AG
Kuros Biosciences (SIX: KURN) is focused on the development of innovative products for bone regeneration and is located in Schlieren (Zurich), Switzerland and Bilthoven, The Netherlands. Visit www.kurosbio.com for additional information on Kuros, its people, science and product pipeline.
Forward Looking Statements
The purpose of this publication is to inform shareholders of Kuros Biosciences AG and the public. This press release does neither constitute an offer to buy or to subscribe to rights or shares of Kuros Biosciences AG nor a prospectus within the meaning of the applicable Swiss law
This publication may contain specific forward-looking statements, e.g. statements including terms like "believe", assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. Kuros Biosciences AG assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
The securities described herein were offered publicly without restrictions in Switzerland only.
THIS PRESS RELEASE IS NOT BEING ISSUED IN THE USA, IN THE UNITED KINGDOM, IN AUSTRALIA, CANADA OR JAPAN AND SHOULD NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES, THE UNITED KINGDOM, AUSTRALIA, CANADA OR JAPAN AND MUST NOT BE DISTRIBUTED OR DISSEMINATED TO ONE OF THESE COUNTRIES BY PUBLICATIONS WITH A GENERAL CIRCULATION. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES. THE SECURITIES OF KUROS BIOSCIENCES AG HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 AS AMENDED AND ARE NOT BEING OFFERED IN THE UNITED STATES OR TO U.S. PERSONS.
In relation to the United Kingdom the communication of this publication is not being made, and this publication has not been approved, by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000. Accordingly, this publication is not being distributed to, and must not be passed on to, the general public in the United Kingdom. Rather, the communication of this publication is being made to, and is directed only at persons outside the United Kingdom. This publication is only available to such persons and the transaction contemplated herein will be available only to, or engaged in only with persons outside the United Kingdom, and this publication must not be acted on or relied upon by any other person.
In relation to each Member State of the EEA which has implemented the Directives 2003/71/EG dated November 4, 2013 (the "Prospectus Directive") (each a "Relevant Member State") and 2010/73/EU dated November 24, 2010, an offer to the public of rights or shares of Kuros Biosciences AG which are the subject of the offering contemplated by this publication may not be made in that Relevant Member State. An offer to the public of rights or shares of Kuros Biosciences AG may in particular also not be made under the provisions of Article 3 (2) of the Prospectus Directive or the respective regulations of national regulations implementing the Prospectus Directive.
The offer referred to in this press release shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.
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