Biotie Therapies raises EUR 7.2 million
Biotie Therapies Corp. raises EUR 7.2 million as a directed issue of new shares is more than two times oversubscribed.
With reference to the share issue announced on 4th of December 2009, Biotie has decided to put an end to the reception of subscription undertakings due to the offering having been oversubscribed more than two times. All 14,432,000 shares offered were subscribed at a subscription price of EUR 0.50 per share and all offered new shares have been allocated to a major UK institutional fund management group. Furthermore, certain Biotie shares previously held by certain European venture capital investors will be placed to new institutional investors to satisfy the excess demand in the oversubscribed offering.
The subscription price for all new shares totalled at EUR 7,216,000 and as a result, the share capital of Biotie will be increased by such amount.
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| Fund | Bio Fund Ventures III |
| Portfolio Company | Biotie Therapies |
| Date of Transaction | 2009-12-07 |
| Transaction | Finance round |
| Seller | |
| Buyer | |
| Size of Transaction | EUR 7.2m |
| Ind. Focus | Life Science |
| Geography | Finland |
| Stage | Venture |