(AOF) – Eurobio Scientific announces the success of the public purchase offer initiated by EB Development. Denis Fortier, CEO of Eurobio Scientific, announces “a total of 44.72% of the company’s capital and voting rights contributed” to the offer. EB Development, acting in concert with funds managed by NextStage AM and IK Partners, together with the CEO, and other members of the board of directors and senior management, own in total approximately 8.47 million shares representing 82.68% of the capital and voting rights.
The specialist in vitro medical diagnostics and life sciences group specifies that the offer will be reopened from December 4 to 17, 2024 to allow shareholders who were unable to tender their shares to do so, and at the same price, i.e. 25.30 euros per share, increased by a price supplement of 1.25 euros per share in the event of reaching the threshold of 90% of the capital and voting rights.
If these thresholds are reached, EB Development will request the implementation of a compulsory withdrawal procedure from the Euronext Growth market.
The price of 25.30 euros per share represents a premium of 39% over the closing price on July 30, 2024, the last trading day preceding the announcement of the offer.
Unanimous Board of Directors, delisting in sight
The board of directors “unanimously recommended that shareholders tender their shares to the offer”. The directors consider in particular that the listing “does not provide the company with the possibility of financing its development mainly based on external growth operations” and that “in a context penalizing mid-caps, the constraints linked to the listing are now appearing ‘today less and less justified’.
For them, the merger with EB Development will allow the company “to access new sources of financing to ensure its development by relying on a reference investor who shares its strategy”.
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