Lainate, July 6, 2015; Cassiopea SpA (“Cassiopea” or “the Company”), a clinical stage specialty pharmaceutical company focused on developing and commercializing innovative and differentiated medical dermatology products addressed to the topical treatment of acne, androgenic alopecia (AGA) and genital warts announced today that the Global Coordinators, acting on behalf of the syndicate banks, have fully exercised the over-allotment option as part of the Company’s Initial Public Offering (“IPO”).
On July 1, 2015, the shares of Cassiopea (ticker symbol: SKIN) were listed and admitted to official trading on SIX Swiss Exchange. Jefferies and Credit Suisse have today exercised the full over-allotment option at CHF34.00 per share of 363,640 secondary shares from Cassiopea’s major shareholder Cosmo Pharmaceuticals S.A. (“Cosmo”).
As a result, including the shares placed in connection with the over-allotment option, a total of 5,163,640 offered shares have been sold in the IPO of Cassiopea, corresponding to 51.6% of the share capital. The offer size of the IPO therefore amounts to CHF 175.6 million. Cosmo’s shareholding in Cassiopea is therefore 4,536,360 shares, corresponding to 45.4% of the Company.
Cosmo, each member of the Board of Directors and the Management of Cassiopea, as well as certain key Cosmo investors (the “Cornerstone Investors”) have agreed to a lock up of 12 months after the first day of trading of Cassiopea. Cassiopea has agreed not to issue or sell its shares for 6 months after the first day of trading of Cassiopea.
Cassiopea is a clinical-stage specialty pharmaceutical company focused on developing and commercializing innovative and differentiated medical dermatology products. Initial focus is on the topical treatment of acne, androgenic alopecia (or AGA) and genital warts. The portfolio comprises four unencumbered clinical candidates, for which Cassiopea owns the worldwide rights. For further information on Cassiopea, please visit www.cassiopea.com.
For further details please contact
Martin Meier Pfister
+41 43 244 81 40
Diana Harbort, CEO
Dr. Chris Tanner, CFO & Head of Investor Relations
Tel: +39 02 868 91 124
In the European Economic Area, with respect to any Member State that has implemented Directive 2003/71/EC and Directive 2010/73/EU (together with any applicable implementing measures in any Member State, the “Prospectus Directive”) this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
These materials shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication is not for distribution in the United States, Canada, Australia or Japan. This communication does not constitute an offer to sell, or the solicitation of an offer to buy, securities in any jurisdiction in which it is unlawful to do so. In particular, these materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933 (the “Securities Act”). The securities referred to herein have not been and will not be registered under the Securities Act. There will be no public offering of these securities in the United States.
This communication is being distributed only to, and is directed only at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), and (c) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
This publication constitutes neither an offer to sell nor a solicitation to buy securities of the Company and it does not constitute a prospectus or a similar communication within the meaning of article 752, 652a and/or 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. This publication constitutes neither an offer to sell nor a solicitation to buy securities of the Company. The securities have already been sold.
For the avoidance of doubt, none of the Joint Global Coordinators makes any representation or warranty that it intends to accept or be bound to any of the information contained herein nor shall the Joint Global Coordinators be obliged to enter into any further discussions or negotiations pursuant thereto but shall be entitled in their absolute discretion to act in any way that they see fit in connection with the potential transaction. Any discussions, negotiations or other communications that may be entered into, whether in connection with this communication or otherwise, shall be conducted subject to contract. No representation or warranty expressly or implicitly, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by any of the Joint Global Coordinators or any of their respective officers, employees or agents as to or in relation to the accuracy or completeness of this communication, publicly available information on the Company or any other written or oral information made available to any interested party or its advisors and any liability therefore whether in contract, tort or otherwise is hereby expressly disclaimed.
The Joint Global Coordinators are acting on behalf of the Company and no one else in connection with the securities referred to herein and will not be responsible to any other person for providing the protections afforded to clients of the Joint Global Coordinators, or for providing advice in relation to the securities referred to herein.