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Highlights
- Gilead Sciences Supports Proposal: Significant HOOKIPA shareholder, Gilead Sciences, intends to vote in line with the HOOKIPA Board's recommendation and participate in the proposed $30 million+ fundraise.
- Fundraise Details Amended: HOOKIPA revises its private placement fundraise to a 100% primary placement exceeding $30 million, updating previous guidance of "up to $30 million."
- No Binding Agreement Yet: Discussions regarding the potential combination remain non-binding and non-exclusive, with no guarantee of a formal offer or completed transaction.
Further to the 2 January 2025 announcement regarding a potential combination between Poolbeg Pharma (LSE:POLB) and HOOKIPA Pharma, the Boards of both companies have provided key updates regarding shareholder support and fundraising plans.
Gilead Sciences' Support
Gilead Sciences Inc., a significant HOOKIPA shareholder holding 1,875,947 common shares (representing 19.4% of HOOKIPA's issued share capital), has indicated its intention to vote in favor of the HOOKIPA Board's recommendation if a formal offer is made. Additionally, Gilead has confirmed its intention to participate in the proposed fundraise, consistent with its current contractual obligations.
Amended Fundraise Plans
HOOKIPA has revised the structure of its private placement fundraise initially disclosed on 2 January 2025. The company now plans to undertake a 100% primary private placement fundraise exceeding $30 million. This is an update from the previous disclosure, which anticipated a fundraise of "up to $30 million." An updated Fundraise Presentation will soon be available on the websites of both companies.
Placement Agent Engagement
HOOKIPA has engaged Oppenheimer & Co. Inc. as the placement agent for the private placement fundraise, signaling a key step forward in its financial strategy to support the proposed transaction.
Non-Binding Discussions
It is important to note that all discussions regarding the potential combination between Poolbeg and HOOKIPA remain non-binding and non-exclusive. While these developments highlight progress, there is no assurance that a formal offer will be made or that the transaction will ultimately be completed.
