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BioNTech to Raise $250M in Private Placement

BioNTech SE (NASDAQ: BNTX) today announced a private investment of USD 250 million (EUR 223 million) by Temasek and other accredited investors. The private placement includes an investment of approximately USD 139 million in ordinary shares and a USD 112 milli

Benzinga · -
BioNTech SE (NASDAQ: BNTX) today announced a private investment of USD 250 million (EUR 223 million) by Temasek and other accredited investors. The private placement includes an investment of approximately USD 139 million in ordinary shares and a USD 112 million investment in 4-year mandatory convertible notes. "We are pleased to welcome Temasek onboard as a new shareholder. We believe their long-term investment approach, global presence, and deep experience in the biotechnology field are a good fit with our vision to build a leading global biopharmaceutical company," said Ugur Sahin, CEO and Co-founder of BioNTech. Upon closing, private placement investors will receive 2,595,996 ordinary shares in BioNTech, which will be subject to a 180-day lock-up agreement. The 4-year mandatory convertible notes will come with a coupon of 4.5% per annum and a conversion premium of 20% above the reference price. The investment is expected to close in early- to mid-August, subject to customary closing conditions.