Valbonne, France, February 26, 2018, 7pm CET
TxCell SA (FR0010127662 – TXCL), a developer of cellular immunotherapies based on regulatory T cells (Tregs) for inflammation, autoimmunity and transplantation, today announces the expiry of the listed warrants issued as part of the February 2017 capital increase that have not been exercised as of today, and the issuance of the first tranche from its financing program based on notes convertible into shares with share subscription warrants attached (OCABSA) (see press release dated October 25, 2017) for an amount of €1.8 million in nominal value.
As part of the issuance of this first tranche on February 26, 2018, the investment fund YA II PN, LTD managed by Yorkville Advisors Global LP subscribed to 18 OCABSA with a nominal value of €100,000 each, representing a tranche of notes convertible into shares (OCA) with a nominal value of €1.8 million. 150,000 warrants (BSA) with a strike price of €3, which may generate, if fully exercised, an additional equity contribution of €450,000 for TxCell, are immediately detached from these OCA.
As previously announced, the OCABSA program consits of monthly installments at TxCell’s sole discretion, for a total financing of up to €15 million. From March 2018, the Company plans to issue monthly tranches of OCABSA for a nominal amount of €1.2 million each. In parallel, TxCell is actively working towards securing a longer-term financing solution, such as a strategic partnership and/or an equity offering, depending on market conditions. The Company may, as the case may be, interrupt these monthly OCABSA issuances at any time. Even in the absence of such longer-term financing solution, the OCABSA program can finance the Company’s activities until early 2019 and enable the Company to reach the regulatory filing for the start of TxCell’s first-in-man study with a CAR-Treg, expected to occur in Q4 2018.
Upcoming OCABSA issuances will be communicated as part of TxCell’s monthly information regarding the Company’s total number of voting rights and shares. In addition, the Company provides on its website an updated summary of the OCA, the BSA and the number of outstanding Company’s shares.
This OCABSA financing replaces the 4.2 million new shares that would have been issued upon the exercise of the listed warrants, which expired on February 26, 2018.