AB Science Raises 3.2 Million Euros to Fund its AB8939 Program
AB Science announces the successful completion of a capital increase of 3.2 million euros with a select group of investors. The funds raised will primarily finance the clinical development of the AB8939 program and strengthen the company's cash reserves.
Use of Funds and Strengthening of Cash Reserves
The proceeds from the private placement will provide AB Science with the necessary resources to fund its ongoing activities, primarily continuing the clinical development of the AB8939 program. This operation strengthens the company's cash reserves and enables it to cover its financing needs for the next 12 months. The private placement, with a total amount of 3.2 million euros (including share premium), was carried out through the issuance of 3,412,768 new ordinary shares. Each new share comes with a warrant (BSA).
Terms of the Warrants and Admission to Trading
Two BSAs allow their holder to subscribe to one ordinary share of the company at a price of 1.30 EUR per share. The BSAs can be exercised at any time within 48 months following their issuance. If all the BSAs are exercised, a total of 1,706,384 additional ordinary shares will be issued, generating an additional revenue of approximately 2.2 million euros. The new shares are expected to be admitted to trading on Euronext Paris on May 5, 2026 under the ISIN code FR0010557264 (AB). The BSAs will not be listed. Following the issuance of the new shares, the company's total share capital will be 765,389.12 EUR, composed of 69,776,233 ordinary shares (or 71,482,617 ordinary shares if all the BSAs are exercised).
