MorphoSys To Issue 3.423 Mln New Shares At EUR 30/shr

(RTTNews) - MorphoSys AG (MOR), a German biotech company, said on Thursday that it is raising its current share capital to 37.655 million euros from 34.231 million euros.

New shares numbering 3,423,194 have been placed with institutional investors at 30 euros per share by way of an accelerated book building, for gross proceeds of around 102.7 million euros.

The placement price represents a discount of 2.8 percent compared to the 5-day volume-weighted average price (XETRA) of the company's shares.

MorphoSys said that it aims to use the net proceeds to support the ongoing clinical development of key pipeline programs for regulatory approval, accelerate launch preparations for pelabresib in first-line myelofibrosis, and general corporate purposes.

The delivery and the first day of trading of the new shares is expected to occur on or around December 19, 2023.

The new shares will be admitted to trading on the Frankfurt Stock Exchange and carry full dividend rights as from January 1, 2023.