The exercise of all 36,966,203 issued BSA-BLUE warrants would allow Fermentalg to raise €5.5 million in additional funds.
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This free allocation was approved by the shareholders today at the general meeting.ġ8 BSA-BLUE warrants will allow their holders to subscribe for 1 new share at €2.75 until 15 December 2023. This deal strengthens Fermentalg's available cash flow and supplements the €3.5m deleveraging associated with the conversion by Bpifrance Investissement and Bpifrance Participations on 9 December 2021 of the convertible bonds subscribed in June 2020.įree allocation of share subscription warrants to all shareholdersĪs mentioned, to involve all existing shareholders in the company's success, each Fermentalg shareholder will be allocated, on 22 December 2021, 1 BSA-BLUE warrant for each share held at the close of trading on 15 December 2021. Nixon and NextStage AM will hold approximately 4.6% and 2.7% of Fermentalg's capital respectively. The subscription price was set at €2.75, which is the volume-weighted average share price over the three trading days preceding the issue of the shares minus a 10% discount.įollowing the settlement and delivery of the new shares, scheduled for 21 December 2021, Fermentalg's capital will consist of 39,921,587 shares. Nixon subscribed for 1,818,181 ordinary shares and NextStage AM for 1,090,909 ordinary shares. The investment is made through the private issue of 2,909,090 ordinary shares exclusively to a class of qualified investors, with cancellation of the preferential subscription right of the Company's shareholders, to which Theodore H. Fermentalg is positioned in the right markets with the right products, the right partners, and a strong team to make commercial successes out of their innovations”. Today, we are convinced that it's a good time for us to become a shareholder and support the company in its growth.
NextStage AM has been supporting growth entrepreneurs in their development since 2002 with its multi-strategy Private Equity platform, which at the end of December 2020 represented more than €6.1 billion in assets under management, directly and indirectly collected from institutional and individual investors.įlorent Saint Léger, Director of Listed Investments at NextStage AM, explained, “ For more than 18 months, we've been watching Fermentalg, analysing the company's value in depth, and having regular discussions with its management. In response to NextStage AM's desire to become a significant shareholder of the company, Fermentalg decided to increase the size of its capital-raising target to €8 million, allowing NextStage AM to invest €3 million.
Nixon had expressed his interest in making a personal investment of €5 million in Fermentalg. Building on the success of this collaboration, Theodore H. Nixon, Chairman of the Board of Directors of DDW, as well as the allocation of free share subscription warrants to all the shareholders.Īs a reminder, in June 2020, Fermentalg established a multi-year technological, industrial, and commercial development partnership with US industrial group DDW, which was recently acquired by Swiss company Givaudan, to place its natural blue food colouring, BLUE ORIGINS®, on the market. Libourne – 16 December 2021 – Fermentalg (Euronext – FALG), a major French player in microalgae, has announced an equity investment from the NextStage AM investment fund in connection with the private placement subscribed by Theodore H.