CMS assists ASIT biotech in its new fundraising

CMS Belgium assisted ASIT biotech in the preparation of its new fundraising in order to further develop its activities. ASIT biotech is a Belgian clinical-stage biopharmaceutical company listed on Euronext Paris and Euronext Brussels, focusing on the research of breakthrough immunotherapy products for the treatment of allergies.

The fundraising will take the form of a private placement, managed directly by the board of directors and prior approved by the shareholders’ meeting. A maximum of 3 million new shares and 6 million warrants have been issued, without discount, and will be placed in the coming weeks. Each subscriber of one share will receive two warrants for free. The first one will expire on 30 June 2018 and the second on 31 December 2019, the second warrant may only be exercised if the first warrant has been prior exercised.

This financing structure is, according to the Company, best suited to meet the expectations of the different participants, including shareholders, the Company and the investors.

The CMS team responsible for the deal was led by Adrien Lanotte.