Bavarian Nordic Announces Subscription Price and Number of Shares to be Issued to Johnson & Johnson Innovation – JJDC, Inc.
COPENHAGEN, Denmark, August 9, 2017 – Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announces the subscription price and the number of new shares to be issued to Johnson & Johnson Innovation – JJDC, Inc. (JJDC) in connection with the license and collaboration agreement entered into on July 27, 2017 with Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson (see company announcements no. 20/2017 and 21/2017 for additional details).
The subscription price is DKK 405.1578 per share of DKK 10 and has been calculated based on the simple average of the volume weighted average price of the Company’s shares on Nasdaq Copenhagen (Bloomberg VWAP for BAVA.DC) during a period of ten consecutive trading days starting on July 27, 2017 and ending today.
According to the subscription agreement entered into on July 27, 2017 between JJDC and Bavarian Nordic, JJDC will subscribe for Bavarian Nordic shares for USD 33,000,000, corresponding to DKK 207,482,135.
Consequently, Bavarian Nordic will issue 512,102 new shares of DKK 10 each (equal to approximately 1.63 per cent of existing share capital of the Company) at a price of DKK 405.1578 per share. The new shares will be issued upon closing of the transaction with Janssen which is awaiting clearance under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. The Company will issue a company announcement when this happens.
About Bavarian Nordic
Bavarian Nordic is a fully integrated biotechnology company focused on the development, manufacturing and commercialization of cancer immunotherapies and vaccines for infectious diseases, based on the Company’s live virus vaccine platform. Through long-standing collaborations, including a collaboration with the U.S. government, Bavarian Nordic has developed a portfolio of vaccines for infectious diseases, including the non-replicating smallpox vaccine, IMVAMUNE®, which is stockpiled for emergency use by the United States and other governments. The vaccine is approved in the European Union (under the trade name IMVANEX®) and in Canada. Bavarian Nordic and its partner Janssen are developing an Ebola vaccine regimen, and vaccines for the prevention and treatment of HPV, HBV and HIV. Additionally, in collaboration with the National Cancer Institute, Bavarian Nordic has developed a portfolio of active cancer immunotherapies, including PROSTVAC®, which is currently in Phase 3 clinical development for the treatment of advanced prostate cancer. The company has partnered with Bristol-Myers Squibb for the potential commercialization of PROSTVAC. For more information visit www.bavarian-nordic.com or follow us on Twitter @bavariannordic.
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
Rolf Sass Sørensen
Vice President Investor Relations (EU)
Tel: +45 61 77 47 43
Vice President Investor Relations (US)
Tel: +1 978 341 5271
Company Announcement no. 22 / 2017