Mesoblast Completes Successful Institutional Capital Raising of A$75 Million
October 03 2019 - 6:59AM
Mesoblast Limited (Nasdaq: MESO; ASX: MSB), leader in cellular
medicines for inflammatory diseases, announced today that it has
successfully completed a A$75 million (US$50.4 million) capital
raising via a placement to existing and new Australian and global
institutional investors.
This placement will result in the issue of 37.5
million new fully-paid ordinary shares at a price of A$2.00 per
share. This price represents a 3.15% discount to the 10 day VWAP at
the close of trading on September 30, 2019.
The net proceeds will principally be used to build
product inventory and a targeted United States sales force in
preparation for the potential United States commercial launch of
remestemcel-L in the treatment of pediatric steroid-refractory
acute graft versus host disease. Proceeds will also be used to
complete Phase 3 trials for chronic low back pain and advanced
heart failure, and for working capital and general corporate
purposes.
Institutional Placement
The placement does not require shareholder approval
and the new ordinary shares issued will rank equally with existing
ordinary shares on issue. Settlement is expected to occur on
Monday, October 7, 2019. New shares issued under the placement are
expected to be issued and commence trading on the ASX on Tuesday,
October 8, 2019.
About Mesoblast Mesoblast Limited
(Nasdaq: MESO; ASX: MSB) is a world leader in developing allogeneic
(off-the-shelf) cellular medicines. The Company has leveraged its
proprietary cell therapy technology platform to establish a broad
portfolio of commercial products and late-stage product candidates.
Two products have been commercialized in Japan and Europe by its
licensees, and it has established commercial partnerships in Europe
and China for certain Phase 3 assets. In the United States,
Mesoblast has initiated submission of a rolling Biologics License
Application to the FDA to seek approval of its product candidate
for acute graft versus host disease following a successful Phase 3
trial, and is completing Phase 3 trials for its advanced heart
failure and chronic low back pain product candidates. Through
a proprietary process, Mesoblast selects rare mesenchymal lineage
precursor and stem cells from the bone marrow of healthy adults and
creates master cell banks, which can be industrially expanded to
produce thousands of doses from each donor that meet stringent
release criteria, have lot to lot consistency, and can be used
off-the-shelf without the need for tissue matching. Mesoblast has
facilities in Melbourne, New York, Singapore and Texas and is
listed on the Australian Securities Exchange (MSB) and on the
Nasdaq (MESO). For more information, please see www.mesoblast.com,
LinkedIn: Mesoblast Limited and Twitter: @Mesoblast
Forward-Looking StatementsThis
announcement includes forward-looking statements that relate to
future events or our future financial performance and involve known
and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance or achievements
to differ materially from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. We make such forward-looking statements
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and other federal securities laws.
Forward-looking statements should not be read as a guarantee of
future performance or results, and actual results may differ from
the results anticipated in these forward-looking statements, and
the differences may be material and adverse. Forward-looking
statements include, but are not limited to, statements about the
timing, progress and results of Mesoblast’s preclinical and
clinical studies; Mesoblast’s ability to advance product candidates
into, enroll and successfully complete, clinical studies; the
timing or likelihood of regulatory filings and approvals; and the
pricing and reimbursement of Mesoblast’s product candidates, if
approved. You should read this press release together with our risk
factors, in our most recently filed reports with the SEC or on our
website. Uncertainties and risks that may cause Mesoblast’s actual
results, performance or achievements to be materially different
from those which may be expressed or implied by such statements,
and accordingly, you should not place undue reliance on these
forward-looking statements. We do not undertake any obligations to
publicly update or revise any forward-looking statements, whether
as a result of new information, future developments or
otherwise.
For further information, please contact:
Julie Meldrum |
Schond Greenway |
Corporate Communications |
Investor Relations |
Mesoblast |
Mesoblast |
T: +61 3 9639 6036 |
T: +1 212 880 2060 |
E:
julie.meldrum@mesoblast.com |
E:
schond.greenway@mesoblast.com |
This announcement does not constitute an offer to
sell, or a solicitation of an offer to buy, securities in the
United States or any other jurisdiction. Any securities described
in this announcement have not been, and will not be, registered
under the US Securities Act of 1933 and may not be offered or sold
in the United States except in transactions exempt from, or not
subject to, the registration requirements of the US Securities Act
of 1933 and applicable US state securities laws.
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