The current weak US IPO conditions have resulted in a slight change of plan for Bavarian Nordic. It recently shelved its US listing plans and instead completed a private share placement, which raised c $100m vs. the expected $86m in the F-1 filing. New funds will be used for the same purposes as the IPO, namely advancing the development of CV-301, MVABN RSV and for capex. Prostvac has passed its first interim analysis and the Phase III trial will continue without modification.
26 Apr 2016
Private placement trumps IPO
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Private placement trumps IPO
Bavarian Nordic A/S (BAVA:CSE) | 0 0 2.2% | Mkt Cap: 7,903m
- Published:
26 Apr 2016 -
Author:
Lala Gregorek -
Pages:
6
The current weak US IPO conditions have resulted in a slight change of plan for Bavarian Nordic. It recently shelved its US listing plans and instead completed a private share placement, which raised c $100m vs. the expected $86m in the F-1 filing. New funds will be used for the same purposes as the IPO, namely advancing the development of CV-301, MVABN RSV and for capex. Prostvac has passed its first interim analysis and the Phase III trial will continue without modification.