OREANDA-NEWS. Kuros Biosciences (SIX:KURN) today announced that the Board of Directors determined the final structure and terms of its share placement. The Board decided to offer up to 1,612,330 shares within a price range of CHF 12.50 to CHF 15.50 per share. The gross proceeds, net of certain costs and expenses associated with the placement, will be used to prepare the commercialization of Kuros’ lead products MagnetOS and Neuroseal.

The placement will be conducted as an “at market” rights offering and a share offering for shares, for which rights were not exercised, subject to certain limitations based on residency. Existing shareholders will receive one subscription rights for each share held. Four subscription rights will grant the shareholder to purchase one new share. The cut-off date for the allocation of the subscription rights will be on June 20, 2017, after close of trading. The rights exercise period will start on June 21, 2017, and end on June 28, 2017, 12 noon. The share offering will start on June 21, 2017, and end on June 28, 2017, 4pm. The final number of new shares and the offer price are expected to be announced on or around June 29, 2017. In addition, Kuros granted a call option in order to place up to 100,000 additional new shares for the purpose of covering over-allotments made and enabling stabilisation measures.

The share offering involves a public offering in Switzerland and private placements to qualified institutional investors in certain jurisdictions outside Switzerland in compliance with applicable securities laws.

The settlement and first day of trading of the newly issued shares is expected to be on July 3, 2017.

About Kuros Biosciences Ltd

Kuros Biosciences is focused on the development of innovative products for tissue repair and regeneration and is located in Schlieren (Zurich), Switzerland. The Company is listed according to the International Financial Reporting Standard on the SIX Swiss Exchange under the symbol KURN.