Mithra Launches a Capital Increase by Means of a Private Placement via an Accelerated Bookbuild Offering

 

Mithra Pharmaceuticals SA (the ‘Company’ or ‘Mithra’), a company specialized in Women’s Health (Euronext Brussels: MITRA), announces the launch of a capital increase of up to 3,112,975 shares (representing just below 10% of the Company’s shares currently admitted to trading on Euronext Brussels) by means of a private placement via an accelerated bookbuild offering (the ‘Private Placement’).

The Private Placement will not be open to the public. The new shares will be offered without preferential subscription rights for existing shareholders to certain qualified and/or institutional investors as provided in the applicable laws and regulations and, as the case may be, to other investors, who may only acquire new shares subject to committing to invest for a total consideration of at least EUR 100,000 per investor. The shares will be offered in Belgium and, subject to applicable limitations in the relevant jurisdictions, other selected jurisdictions. The new shares will be issued upon decision of the Board of Directors of the Company within the framework of the authorised capital. The Board of Directors of the Company has decided to cancel the preferential subscription rights of the existing shareholders in the context of the Private Placement.

 

The accelerated bookbuild offering will commence immediately. The Company will announce the results of the Private Placement as soon as possible after closing of the bookbuild (including the final number of New Shares and the Offer Price).

 

Trading in Mithra shares on Euronext Brussels will be suspended during the bookbuilding period. Trading is expected to resume following the publication of the results of the Private Placement.

 

Mithra intends to use the net proceeds of the Private Placement:

  • to continue the clinical development of its Estetrol-based (E4) products Estelle® and Donesta®, currently in Phase III studies in the indication of contraception and a Phase II study in menopause, respectively;
  • to fund the development of its complex polymer-based generic MyringTM contraceptive up to commercialization;
  • to fund the scaling-up of the Mithra CDMO, its integrated product development and product platform; and
  • for general corporate purposes.

Mithra also intends to continue to strengthen its working capital and to fund its operationsthrough future business development agreements. In particular, Mithra intends to seek partners for its E4-based and Complex Therapeutics programs for worldwide commercialization. The Company is currently identifying potential partners, and discussions are expected to ramp up in view of the significant potential of its programs to transform options for women in the large and fast-growing segments of potentially safer and more convenient contraceptives and hormone therapy solutions.

 

KBC Securities, Degroof Petercam and Kempen & Co are acting as Joint Bookrunners in the Private Placement.

 

In relation to the Private Placement, the Company has agreed with the Joint Bookrunners to a market customary 90-days standstill period on future share issuances, waivable by the Joint Bookrunners.

 

 

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