Kromann Reumert assisted Bavarian Nordic in connection with a directed issue of new shares
Kromann Reumert has assisted Bavarian Nordic with the directed issue of 6,373,680 new ordinary shares, yielding gross proceeds to the company of DKK 1,708 million.
On 6 December 2021, Bavarian Nordic A/S announced the launch of a private placement of new ordinary shares, at a price to be determined through an accelerated book-building process. The private placement has been completed and was priced at DKK 268 per share, raising gross proceeds to Bavarian Nordic of DKK 1,708 million.
Bavarian Nordic intends to use the net proceeds to fund a pivotal phase 3 trial of Bavarian Nordic’s RSV vaccine candidate MVA-BN RSV, ensuring strategic flexibility necessary to pursue an active M&A strategy, and strengthening Bavarian Nordic’s capital base and cash preparedness.
Kromann Reumert has assisted Bavarian Nordic in connection with the accelerated book-building. Citigroup Global Markets and Nordea Danmark, Filial af Nordea Bank Abp, Finland acted as Joint Global Coordinators and Joint Bookrunners.
Kromann Reumert's core team included Christina Bruun Geertsen and Rune Morthorst.
About Bavarian Nordic
Bavarian Nordic is a fully integrated vaccines company focused on the development, manufacturing and commercialization of life-saving vaccines. Bavarian Nordic are a global leader in smallpox vaccines and have been a long-term supplier to the U.S. Government of a non-replicating smallpox vaccine, which has been approved by the FDA, also for the protection against monkeypox. The vaccine is approved as a smallpox vaccine in Europe and Canada.
Bavarian Nordic's commercial product portfolio furthermore contains market-leading vaccines against rabies and tick-borne encephalitis. Furthermore, Bavarian Nordic by using its live virus vaccine platform technology, MVA-BN®, have created a diverse portfolio of proprietary and partnered product candidates designed to save and improve lives by unlocking the power of the immune system, including an Ebola vaccine, which is licensed to the Janssen Pharmaceutical Companies of Johnson & Johnson. Bavarian Nordic is also committed to the development of a next generation COVID-19 vaccine.
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