Nicox makes reserved capital increase of $29.6 million for 15 million new shares
French ophthalmic company Nicox (Euronext Paris: COX) has made a reserved capital increase of ordinary shares to specific categories of investors.
The proceeds of this financing will be used to fund Nicox’s growth strategy to become a leading global company through advancing its current late-stage pipeline of two pre-New Drug Application and two pre-Marketing Authorization Application products in the USA and the European Union respectively.
The gross proceeds of the financing are around $29.6 million for a total of 15 million new shares. New institutional investors specialized in life sciences have participated in this financing. Approximately 72% of new investors are from the USA and 28% from Europe. The capital increase raises Nicox’s net cash balance to around $52.6 million as of the closing date.
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