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Nicox plans €26.3M capital increase

Nicox SA plans to raise about €26.3 million by issuing 3.5 million new shares at €7.50 apiece.

The share capital increase was reserved for subscription by companies or funds focused on the pharmaceutical biotechnology sector.

The new shares, which are expected to be settled and delivered Aug. 17, will represent 12% of the company's issued share capital after the financing.

Nicox plans to use net proceeds for research, pipeline candidate development, working capital and general corporate purposes.

Guggenheim Securities LLC acted as lead placement agent for the offering, with Bryan Garnier & Co. as co-placement agent.