- Evolva announces intention for capital increase to support stevia launch and other growth initiatives
Evolva announces intention for capital increase to support stevia launch and other growth initiatives
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The securities to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will not be a public offering of securities in the United States.
26 August 2015 – In order to further strengthen its financial resources for the continued investment in its product portfolio, Evolva intends to raise new equity capital. Targeted gross proceeds are around CHF 60 million and are intended to be principally used to advance Evolva’s strategy of becoming an integrated supplier of high value innovative ingredients, by:
- Enhancing its manufacturing capabilities by co-investing alongside partners and contractors (including but not limited to its intended 45% participation in stevia in collaboration with Cargill which, subject to a final agreement being reached, will require Evolva to invest low tens of millions USD through 2017)
- Continuing to improve product profitability through improved yeast strains and production processes
- Expanding sales and sales channels for existing ingredients, with a focus on key accounts
- Generating value adding application data for ingredients to enable benefit-based pricing and open up new markets
- Conducting further regulatory studies for its existing product portfolio, most notably in respect of nootkatone, but also for other products, so as to increase their application range and geographies.
The capital increase is expected to be executed in the next few months, most likely by means of a rights offering, subject to market conditions. Evolva has appointed a banking syndicate to manage the transaction. The new shares shall be issued utilising Evolva’s authorised share capital. Further details on the intended use of proceeds and the terms of the rights offering will be announced at the time of the launch of the transaction.
– Ends –
Press/analyst meeting & call at 10.00 AM CET on 26 August 2015
Neil Goldsmith (CEO) and Jakob Dynnes Hansen (CFO) will provide an update on progress in a meeting for analysts and media at the Park Hyatt Hotel in Zürich. The presentation is available on the website.
The meeting is also accessible via dial-in:
+41 (0)58 310 50 00 (Europe)
+44 (0)203 059 58 62 (UK)
+1 (1)631 570 5613 (USA)
A replay will be available as a podcast for 2 weeks after the call. The link to the podcast will be posted on Evolva’s website.
Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, resveratrol, vanillin, nootkatone and saffron. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com. Questions about our fermentation approach? Have a look at our video.
+ 41 61 485 2005
|Jakob Dynnes Hansen
+ 41 61 485 2034
+ 41 61 485 2035
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