Capital increase finalises merger
Brussels – Belgian specialist for regenerative medicine TiGenix NV has raised EUR15.2m through the sale of 15.2 million shares at EUR1/share in a rights issue. Existing shareholders, who were eligible to purchase one share for every five held, subscribed to 7.7 million shares, while the remaining stocks were placed with institutional investors. The company intends to use the net proceeds of the offering for sales, marketing, clinical trials, and research and development. At the closing of the offering, TiGenix had a cash position of approximately EUR33m. In March, the company announced it was buying Spanish Cellerix SA in a share deal. The recent capital increase is part of the merger agreement between the two firms.