Biotage acquires Separtis Holding
Stockholm - In early-October Biotage has acquired Separtis Holding AG, the Swiss, German and Austrian distributor for many Biotage products, formerly the Argonaut Technologies consumable product range.
Biotage will retain all current Separtis employees, assume the leased facilities in Grenzach-Wyhlen, and own all assets of Separtis, which is based in Grellingen, Switzerland, with operating legal entities within Switzerland and Germany. The turnover of the company in 2004 was Euro1.6 million (SEK14.6m) and all revenues were comprised of Biotage products. It is expected the acquisition should result in an annual revenue increase of Euro0.8 million.
In order to efficiently refinance part of the Euro15-million (SEK140m) debt settling regarding the acquisition of Argonaut's business Biotage's board decided in September to increase the share capital by means of an issue of 10 million new shares corresponding to approximately 12% of Biotage's capital and voting rights. That way the share capital is increased by Euro1.6 million (SEK10m) to Euro8.6 million (SEK80.4m).
The set issue price was Euro1.04 (SEK9.70) per share. Each existing share entitled to 1 subscription right and 10 subscription rights entitled to subscription of 1 new share. After deduction of costs, the new share issue brings the company Euro10.1 million (SEK94m) of new capital.