Paris, on July 1st, 2019 – Jeantet advised GLOBAL BIOENERGIES, an innovative company working on converting renewable resources (residual sugars, agricultural and forestry waste) into isobutene, on its capital increase without preferential subscription rights and without priority subscription period through a public offering, of approximately €17m.
Following the subscription period opened from June 20, 2019 to June 25, 2019, the subscriptions came to 3,639,475 shares, meaning a subscription rate close to 100% of the initial size of the offer, with the support of institutional investors.
In the framework of the offer, BOLD Business Opportunities for L’Oréal Development, a subsidiary of the L’Oréal Group, became a shareholder of the company up to 17.3% of its capital and voting rights, with a subscription of €7m.
CM-CIC Innovation, board member and main shareholder of the company before the launch of the capital increase, subscribed to the offer in proportion to its equity stake of 8.3% of the company’s share capital and voting rights, amounting to €1.4m.
Settlement-delivery of the new shares and their admission to trading on Euronext Growth Paris occurred on June 28, 2019 (ISIN FR0011052257 / ticker ALGBE).
Gilbert Dupont acted as Lead Manager and Bookrunner.
Jeantet (deal counsel): Cyril Deniaud, partner, and Clémence Gagneux, associate (Corporate / Capital market law department).