Global Bioenergies – Capital increase a great success
The Company’s Chief Executive Officer has decided to fully exercise the extension clause. The operation’s final gross value therefore amounts to 23 million euros and results in the creation of 927,419 new shares.
Liliane Bronstein, Global Bioenergies’ Chief Financial Officer points out: “The French investment funds have largely participated in this operation. We have also attracted investors from several other European countries as well as from the USA. Overall, orders have been placed by about forty institutional investors.“
Karine Lignel, Director of Participations at CM-CIC Capital Innovation specifies: “CM-CIC Capital Innovation has been attracted both by the already out of the lab, highly innovative technology and by the company’s business model, based on out licensing to large industrial companies. It is a very good time for us to take part, upon launching of the industrial pilot phase, and in the industrial biology sector which we see as strategic.”
Alain Commissaire, Chief Executive Officer of Cristal Union adds: “Cristal Union has decided to reinforce its participation in Global Bioenergies’ capital to accompany Global Bioenergies’ industrial development and to strengthen our group’s involvement in the promising field of biosourced chemistry.“
Marc Delcourt, Global Bioenergies’ Chief Executive Officer concludes: “Individuals’ subscriptions amount to 2.3 million euros, a major success in today’s financial environment. The proceeds will enable us to propel Global Bioenergies into a new phase, largely dedicated to industrial development”.
Settlement-delivery of the new shares will take place on July 16th2013. The new shares will bear all rights and will be entirely fungible with existing shares currently traded on NYSE Alternext Paris. Admission of the new shares to trading is also scheduled for July16th2013 on the same quotation line as existing shares.
Use of the proceeds from the capital increase will include:
- The financing of the isobutene process’ industrialization phase via the construction of two pilots.
- The development of the butadiene and propylene processes.
- The initiation of new programs.
About GLOBAL BIOENERGIESGlobal Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the yield of its process and prepares the phase dedicated to industrial pilot testing. The company recently replicated this success to propylene and butadiene and is also looking to continue with other members of the gaseous olefins family, key molecules at the heart of petrochemical industry. Global Bioenergies is listed on NYSE Alternext Paris (FR0011052257 — ALGBE).
Source: Global Bioenergies