EOS imaging, pioneer in 2D/3D orthopaedic medical imaging, has announced the completion of a private placement in favour of domestic and international investors conducted by way of an accelerated book build offering. The Company has placed 1,868,000 new shares at a nominal value of €0.01, for a price of €4.20 each, issue premium included, which amounts to a total amount of c. €7.8m representing approximately 9.2% of the Company’s share capital. Bpifrance Participations, which has undertaken to participate in the transaction, was able to increase its holding to 10.02% of the share capital by subscription of c. €1.7m.


On an illustrative basis,  a shareholder holding 1% of EOS imaging’s capital before the offering will now hold a stake of 0.92%.


The net proceeds of the offering will be used by EOS imaging to strengthen its capital, in particular to finance investments in product design and industrial processes, aimed at improving the company's operating profitability. Marie Meynadier, CEO of EOS imaging, comments: "I would like to thank our investors in the financing, including lead investor Bpifrance Participations, for their confidence in the Company. This financing strengthens our shareholder base and cash position, which will allow us to accelerate our strategic investments in the business aimed at improving profitability while also sustaining our strong growth trajectory.”


The operation was carried out following the decision adopted by the Board meeting of April 20th 2017and the CEO’s decision as of April 20th 2017 in accordance with the 11th and 12th resolutions of the shareholder’s extraordinary general meeting held on June 17th 2015 and at a negotiated price representing a discount of 4.55% from the closing price on April 20th 2017 and 11.23% from the volume weighted average share price of the Company’s shares on  the regulated market of Euronext Paris over  the last 10  trading days prior  to the launch of the operation.


The capital increase was carried out via the issuance of ordinary shares without pre-emptive rights through a  private placement amongst qualified investors in accordance with Articles L.225-136 of the French Commercial Code (Code de commerce) and L.411-2 II of the French Monetary and Financial Code (Code monétaire et financier) (the “Private Placement”). Settlement of the new shares issued in the context of the Private Placement and the new shares’ admission to trading on Euronext Paris is expected to occur on 25th April 2017. The new shares will be admitted to trading on the Euronext regulated market in Paris under ISIN FR0011191766– EOSI. EOS imaging’s share capital will consist of 22,261,027 shares following the settlement-delivery.


In the context of the Private Placement, the Company has entered into a 90-day restriction agreement from the settlement-delivery date. Bpifrance Participations has signed a lock-up agreement with regard to the Company’s shares held during the 90 days that follow the Private Placement’s settlement-delivery date. This agreement may be waived by the Lead Manager and Bookrunner.


This transaction is not subject to the publication of a prospectus requiring a visa from the AMF (Autorité des Marchés Financiers, the French financial markets authority).Detailed information about EOS imaging, notably regarding its activity, results and related risk factors, are laid out in the Company’s registration document registered with the AMF on June 29th 2016 under reference number R.16-061, and can be found, along with other  regulated information and all of  the Company’s press releases, on EOS imaging website.

Source & Image Credit: EOS Imaging

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EOS imaging,2D/3D orthopaedic medical imaging,Financial Report EOS imaging (Euronext, FR0011191766– EOSI), (the “Company”), pioneer in 2D/3D orthopaedic medical imaging, has announced the completion of a private placement in favour of domestic and international investors conducted by way of an accelerated book build