News
New listing of the company CAPTOR THERAPEUTICS
The company CAPTOR THERAPEUTICS S.A. was newly listed on the GPW Main Market on 19 April 2021.
CAPTOR THERAPEUTICS S.A. is the 431st company listed on the GPW Main Market and the fifth new listing on the Main Market in 2021.
Key information:
|
company name |
CAPTOR THERAPEUTICS S.A. |
|
market (main/parallel) |
main |
|
seat |
Wrocław |
|
Polish/foreign |
Polish |
|
core business |
Biopharmaceutical company |
|
companies listed on the Main Market |
431 |
|
new listings in 2021 |
5 |
|
IPO/public sale |
Public offering: offer to sell 198,000 existing series B shares and public offering of 871,500 new series G shares |
|
Issue/selling price |
Issue/selling price: PLN 172 |
|
public offering value: |
Sale: PLN 34,056,000, new issue: PLN 149,898,000 Total: PLN 183,954,000 |
|
company valuation*
|
PLN 560 million (before the registration of new issue shares) PLN 710 million (after the registration of new issue shares) |
|
% free float in shares subject to the application |
100% in rights to series G shares; 68.51% in all shares subject to the application; 48.85% in existing shares subject to the application |
|
free float value* (at issue/selling price) |
PLN 149,898,000 in rights to shares PLN 351,213,336 in all shares subject to the application; PLN 177,211,256 in existing shares subject to the application |
|
% free float in all shares |
50.93 % in all shares; 31.64 % in existing shares. |
|
free float value (at issue/selling price) |
PLN 361,613,832 in all shares; PLN 177,211,256 in existing shares. |
|
number of shareholders (shares subject to the application) |
Existing shares are held by 33 shareholders. Rights to series G shares are held by approx. 1,700 shareholders (allotted by GPW) |
|
Investment firm responsible for the offering |
TRIGON Dom Maklerski |
|
Legal advisor |
JH Moskwa, Jarmul, Haładyj i Partnerzy – Adwokaci i Radcowie Prawni sp.p. |
|
Auditor |
Mazars Audyt Sp. z o.o. |
Issuer’s history and business
The company was established on 7 November 2018 in the transformation of the company Captor Therapeutics sp. z o.o. founded in 2015.
The Company’s core business is biotechnology research and development. The Company’s other business segments include the manufacturing of basic pharmaceutical substances, the manufacturing of medicines and other pharmaceutical products, technical research and analysis, the manufacturing of other basic organic chemicals. CAPTOR THERAPEUTICS is a biopharmaceutical company focused on development of protein degradation drugs for cancer and autoimmune diseases, which have limited or no known treatment options.
The Company is not generating operating revenue. The Company’s business is largely financed with grants from the National Centre for Research and Development (NCBR). The Company and NCBR signed project co-financing contracts in a total amount of over PLN 175 million from 1 January 2017 to 30 June 2020.
The Issuer’s share capital according to its entry in the Company Register is PLN 325,647.20 divided into 3,256,472 shares with a nominal value of PLN 0.1 per share including:
- 799,750 series A preferred registered shares, each share giving two votes
- 1,757,075 series B ordinary bearer shares;
- 82,449 series C ordinary bearer shares;
- 97,051 series D ordinary bearer shares;
- 347,643 series E preferred registered shares, each share giving two votes
- 26,925 series F ordinary bearer shares;
- 52,354 series H ordinary bearer shares;
- 9,082 series I ordinary bearer shares;
- 84,143 series J ordinary bearer shares;
Company capitalisation (existing shares): PLN 560.1 million
at the share price in the public offering, i.e., PLN 172
Company capitalisation (after the registration of new issue shares): PLN 710 million
at the share price in the public offering, i.e., PLN 172
Financial projections
The Company has published no financial projections.
Public offering
The Issuer offered up to 871,500 new issue series G shares and its shareholders offered up to 198,000 existing shares for sale in the public offering. The issue/selling price was PLN 172.
Sale of series B shares
Following an offer of series B shares, existing shareholders Paweł Holstinghausen Holsten and Marek Skibiński sold in total 198,000 series B shares to 128 institutional investors.
The total value of the sale of existing shares was PLN 34,056,000.
Public offering of series G shares
In total, 871,500 Offered Shares, which were offered at a price of PLN 172 per share, were allotted on 8 April 2021 including:
- 110,000 series G shares allotted to individual investors;
- 761,500 series G shares allotted to institutional investors.
The share were allotted in the GPW IT system. The average reduction rate of subscriptions in the Individual Investor Tranche was 91.7%. More than 1,700 shareholders took up series G shares in the public offering.
IPO value (funds raised by the Issuer): PLN 149,898,000.
Total value of the public offering (sale + new issue): PLN 183,954,000
Purpose of the issue:
- to finance existing research and development projects and to diversify the sources of financing in order to secure funding for research – from approx. PLN 74.7 to approx. 88.6 million;
- to finance the expansion and acquisition of technical research infrastructure necessary for research and development projects – from approx. PLN 19.2 to approx. 25.5 million
- to finance the Company’s marketing activities and legal protection including patents – from approx. PLN 6.8 to approx. 8.4 million;
- to finance recruitment of the Company’s senior management and specialised staff – from approx. PLN 8.1 million to approx. 11.9 million;
- to finance the opening and operation of the Company’s laboratory in Basel (Switzerland) – from approx. PLN 11.5 to approx. 15.5 million.
Newly introduced instruments:
Parallel listing in two listing lines of existing shares (series B, C, D, F, H, I, J) and rights to series G shares.