Evolva raises CHF 86 million via rights offering, private placement

In Switzerland, Evolva raised gross proceeds of approximately CHF 65 million from its shareholder rights offering and CHF 21 million from a recent private placement, for total gross proceeds of approximately CHF 86 million.  The new registered shares were offered to existing Evolva shareholders at a subscription price of CHF 0.22 per new share.

As a result of the rights offering, Evolva’s issued share capital will increase by CHF 59,275,307 to CHF 154,115,799.60. The listing and first trading day of the new registered shares on SIX Swiss Exchange is expected to occur on 10 November 2017.

Evolva CEO Simon Waddington said, “With more than CHF 100 million cash in the bank, streamlined operations, and a clear focus on driving commercial success of our first three products (stevia, nootkatone and resveratrol), we are now well positioned to bring next-generation health, wellness, and nutrition ingredients to the world.”