Shearman & Sterling advised NicOx in connection with a private placement of new shares opened to qualified investors (institutional investors) by way of an accelerated book-building of €30 million, including €20 million subscribed by the Fonds Stratégique d’Investissement (FSI).

Following this private placement and subject to market conditions, NicOx intends to launch a rights issue. NicOx plans to raise approximately €100 million from the private placement and rights issue combined.

The FSI has indicated its intention to invest up to a total of approximately €25 million in the two-step capital increase. The FSI is a French corporation owned 51% by the Caisse des Dépôts et Consignations and 49% by the French Government, which has the objective of supporting medium-sized companies that are considered important for the growth and competitive position of the French economy.

Shearman & Sterling’s team is led by partner Robert Treuhold and European Counsel Aline Cardin, assisted by Trevor Ingram, Khalisha Banks, Régis Henry and Nicolas de Courtivron (all Paris/Capital Markets).