Kromann Reumert assisted Bavarian Nordic in connection with a private placement of new shares


Kromann Reumert has assisted Bavarian Nordic with the directed issue and private placement of 5.15 million new ordinary shares, yielding gross proceeds to the company of DKK 1,148.45 million.
On 9 March 2021, Bavarian Nordic A/S announced the launch of a private placement of new ordinary shares, at a price to be determined through an accelerated book-building process. The private placement has been completed and was priced at DKK 223 per share. 

Bavarian Nordic intends to use the net proceeds to fund a phase 2 clinical study and scale-up of manufacturing to accommodate potential future clinical development to support licensure of Bavarian Nordic’s COVID-19 vaccine candidate ABNCoV2, in-licensed from AdaptVac; continued strengthening of the company’s manufacturing capabilities, to increase agility and flexibility with respect to potential opportunities where Bavarian Nordic may produce vaccines on behalf of third parties, e.g. COVID-19 vaccines; ensuring the strategic flexibility necessary to pursue an active M&A strategy, enabling the company to react swiftly on new opportunities, which the company believes could arise in the market; and strengthen the company’s capital base and cash preparedness (general corporate purposes). 

Kromann Reumert has assisted Bavarian Nordic in connection with the accelerated book-building. Danske Bank A/S, Jefferies International Limited, Jefferies GmbH and Nordea Danmark, Filial af Nordea Bank Abp, Finland acted as Joint Global Coordinators and Joint Bookrunners. 

About Bavarian Nordic 

Bavarian Nordic is a fully integrated vaccines company focused on the development, manufacture and commercialization of life-saving vaccines. The company is a global leader in smallpox vaccines and have been a long-term supplier to the U.S. Strategic National Stockpile of a non-replicating smallpox vaccine, which has been approved by the FDA under the trade name JYNNEOS®, also for the protection against monkeypox. The vaccine is approved as a smallpox vaccine in Europe under the trade name IMVANEX® and in Canada under the trade name IMVAMUNE®. 

Bavarian Nordic's commercial product portfolio furthermore contains the market-leading vaccine Rabipur®/RabAvert® against rabies and Encepur® against tick-borne encephalitis. 

Using the company's live virus vaccine platform technology, MVA-BN®, Bavarian Nordic has created a diverse portfolio of proprietary and partnered product candidates designed to save and improve lives by unlocking the power of the immune system, including an Ebola vaccine, MVABEA®, which is licensed to Janssen.