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2009-12-07 08:30:00 CET 2009-12-07 08:31:54 CET REGULATED INFORMATION Biotie Therapies - Company AnnouncementBiotie raises EUR 7.2 million - directed issue of new shares in Biotie Therapies Corp. more than two times oversubscribedBIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 7 DECEMBER 2009 at 9.30 a.m. Biotie raises EUR 7.2 million - directed issue of new shares in Biotie Therapies Corp. more than two times oversubscribed Not for release, publication or distribution, directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or South Africa. With reference to the share issue announced on 4 December 2009 (the"Offering"), Biotie Therapies Corp. ("Biotie") has decided to discontinue the reception of subscription undertakings due to the Offering having been oversubscribed more than two times by international and Finnish institutional investors. All 14,432,000 shares offered were subscribed at a subscription price of EUR 0.50 per share. All offered new shares have been allocated to a major UK institutional fund management group on the basis of recommendation by Nomura Code Securities Limited, who acted as the Lead Manager in the Offering. Moreover, Biotie was informed by the Lead Manager that simultaneously with the directed Offering, they will place certain Biotie shares previously held by certain European venture capital investors 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. After the registration of the new shares with the Finnish Trade Register, the share capital in Biotie will be EUR 51,506,678.10, and the total number of shares will be 158,752,560 and number of votes 158,289,305. Timo Veromaa, President and CEO of Biotie, commented: "We are very pleased with the increasing investor interest in the company as we expect next year to be very exciting for Biotie. All our clinical programs are expected to reach decisive points in their development within the next 18 months and we are happy to see this strong support from the investment community. With the proceeds from this offering we have further strengthened our cash position and will be financed well into 2011". The new shares subscribed will be issued as book-entries in the Finnish book-entry system maintained by Euroclear Finland Ltd and will be entered on the subscriber's book-entry accounts as interim shares corresponding to the new shares against the payment of the subscription price on December 11,2009. Trading with the interim shares (ISIN: FI4000007570 and trading symbol: BTH1VN0109) is expected to commence on 8 December 2009 as a separate class of securities. The interim shares will be combined with Biotie's current class of shares after the registration of the new shares with the Finnish Trade Register, on or about 14 December 2009. The new shares entitle to the exercise of the rights belonging to a shareholder once the new shares have been registered with the Finnish Trade Register. In Turku, 7 December 2009 Biotie Therapies Corp. Timo Veromaa President and CEO For further information, please contact: Virve Nurmi, Biotie Therapies Corp. tel. +358 2 274 8901, e-mail: virve.nurmi@biotie.com www.biotie.com DISTRIBUTION: NASDAQ OMX Helsinki Ltd Main Media DISCLAIMER: The information herein may not be distributed or sent into the United States, Australia, Canada, Japan or South Africa. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. The information contained herein does not constitute an offer of securities for sale in the United States. The securities referenced in this release may not be offered or sold in the United States absent registration or an exemption from registration as provided in the United States Securities Act of 1933, as amended, and the rules and regulations thereunder. Biotie Therapies Corporation does not intend to register any portion of the placement in the United States or to conduct a public offering of any securities in the United States. This communication does not constitute an offer of securities to the public in the United Kingdom. This communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FP Order") and (iii) high net worth entities falling within Article 49(2) of the FP Order, and other persons to whom it may lawfully be communicated, (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Nomura Code Securities Limited ("Nomura") is acting exclusively for Biotie Therapies Corporation and no one else in connection with the placing. It will not regard any other person (whether or not a recipient of this release) and will not be responsible to anyone other than Biotie Therapies Corporation for providing the protections afforded to its clients, nor for giving advice in relation to the placing or any transaction or arrangement referred to herein. No representation or warranty, express or implied, is made by Nomura as to the accuracy, completeness or verification of the information set forth in this release. |
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