Upcoming financial publication
PRINCETON, N.J. & PARIS--(BUSINESS WIRE)--
STENTYS (FR0010949404 – STNT), a medical technology company
commercializing the world’s first and only Self-Apposing®
stent to treat acute myocardial infarction (AMI), today announced that
it has entered into a Standby Equity Facility with SociÉtÉ GÉnÉrale,
exercisable by tranches at STENTYS’ discretion, as authorized by the
Shareholders’ Meeting of May 15, 2013.
At the request of STENTYS, SociÉtÉ GÉnÉrale is committed to subscribe to
successive capital increases over the next 36 months, within the global
limit of 1,000,000 shares (i.e. 9.0% of the shares currently
Should the entire contingent equity line be drawn down, a shareholder
who currently owns 1% of the company’s share capital would experience a
reduction of his or her share ownership to 0.92%1.
For each tranche, the issue price will equal the volume weighted average
share price of the three trading days preceding the effective date of
purchase with a discount capped at 5%. This discount allows SociÉtÉ
GÉnÉrale, who is not positioned as a long-term shareholder in the
Company, to purchase the shares independently of capital market
STENTYS has no minimum drawdown obligation, and intends to use this
facility at it sole discretion if market conditions are favorable and in
the best interest of both the Company and its shareholders.
“Thanks to this flexible and guaranteed tool, we are strengthening
our future development ability whilst limiting the dilutive effect on
our shareholders,” comments Gonzague Issenmann, Chief Executive
Officer and co-founder of STENTYS.
STENTYS expects to publish its revenues for the first half of 2014 on
July 24, 2014, after market.
About the STENTYS Self-Apposing® Stent
The STENTYS Self-Apposing® Stent addresses the stent-sizing
dilemma that cardiologists are confronted with when treating heart
attack patients or patients with atypical artery anatomy. Its flexible,
self expanding design takes the shape of the patient’s unique vessel
anatomy and apposes to the irregular contours of a blood vessel, in
particular after an AMI as the vessel dilates and the clot dissolves. It
reduces the risk of malapposition and complications associated with
conventional stents in this setting. The STENTYS Self-Apposing Stent has
been marketed in Europe since receiving CE Mark in 2010. The STENTYS
Sirolimus-eluting stent is expected to receive CE Mark in H2 2014.
STENTYS is developing and commercializing innovative solutions for the
treatment of patients with acute myocardial infarction (AMI, or heart
attack) and complex coronary artery disease. STENTYS’s Self-Apposing®
Stents are designed to adapt to vessels with ambiguous or fluctuating
diameters, particularly in the post-infarction phase, in order to
prevent the malapposition problems associated with conventional stents.
In the APPOSITION III clinical trial, STENTYS stents demonstrated a very
low one year mortality rate among 1,000 high-risk AMI patients when
compared to recent studies with conventional stents.
More information is available at www.stentys.com.
STENTYS is listed on Comp. B of the NYSE Euronext Paris
FR0010949404 – Ticker: STNT
1Based on 11,136,715 shares representing STENTYS share
Stanislas Piot, +33 (0)1 44 53 99 42
Oresansky / Pierre Laurent, +33 (0)1 44 71 94 93
Communication / Investor Relations
MacDougall Biomedical Communications
Christine Labaree or
Hunter Marshall, 650 339 7533