MARTINSRIED/MUNICH, Germany, WALTHAM, Mass. and PRINCETON, N.J., Jan.
24 /PRNewswire-FirstCall/ -- GPC Biotech AG (Frankfurt Stock Exchange: GPC;
TecDAX index; Nasdaq: GPCB) today intends a private placement of up to
1,564,587 shares to institutional investors. The placement price and the
final number of shares will be determined by an accelerated bookbuilding
procedure with an underwriter.
Both GPC Biotech's Management Board and Supervisory Board resolved
today to increase the total registered share capital of the Company out of
an existing authorized capital from Euro 33,103,337 by an amount of up to
Euro 1,564,587 to up to a total registered share capital of Euro 34,667,927
by issuing up to 1,564,587 new ordinary bearer shares. The pre-emptive
rights of the existing shareholders have been excluded.
The listing of the new shares on the Frankfurt Stock Exchange (Prime
Standard) is expected to take place in August 2007. To ensure a proper
allocation and delivery of the placed shares to investors, large
shareholders of GPC Biotech have transferred to the underwriter existing
shares of the Company in the form of a securities loan. The underwriter
will make use of such shares only to execute the placement to institutional
investors.
GPC Biotech intends to use the proceeds of the private placement to
continue to accelerate the building of its commercialization infrastructure
in the U.S., as well as to further expand the development of satraplatin in
additional cancer settings.
END OF AD HOC ANNOUNCEMENT
The shares have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended, or any state securities laws in the
U.S., and unless so registered, may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements. This announcement does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of shares in
any state in the U.S. in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state.
This announcement contains forward-looking statements, which express
the current beliefs and expectations of the management of GPC Biotech AG,
including summary statements relating to the development and
commercialization of satraplatin. Such statements are based on current
expectations and are subject to risks and uncertainties, many of which are
beyond our control, that could cause future results, performance or
achievements to differ significantly from the results, performance or
achievements expressed or implied by such forward-looking statements.
Actual results could differ materially depending on a number of factors,
and we caution investors not to place undue reliance on the forward-looking
statements contained in this announcement. In particular, there can be no
guarantee that non final results from clinical trials will be confirmed.
Furthermore, even if these results are confirmed, we cannot guarantee that
satraplatin will be approved for marketing in a timely manner, if at all,
by regulatory authorities nor that, if marketed, satraplatin will be a
successful commercial product. We direct you to GPC Biotech's Annual Report
on Form 20-F for the fiscal year ended December 31, 2005 and other reports
filed with the U.S. Securities and Exchange Commission for additional
details on the important factors that may affect the future results,
performance and achievements of GPC Biotech. Forward-looking statements
speak only as of the date on which they are made and GPC Biotech does not
undertake any obligation to update these forward- looking statements, even
if new information becomes available in the future.
GPC Biotech AG
Martin Braendle
Director, Investor Relations & Corporate Communications
Phone: +49 (0)89 8565-2693
ir@gpc-biotech.com
In the U.S.: Laurie Doyle
Director, Investor Relations & Corporate Communications
Phone: +1 781 890 9007 X267
usinvestors@gpc-biotech.com
SOURCE GPC Biotech AG
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Related links:
http://www.gpc-biotech.com/
CONTACT:
Martin Braendle, Director, Investor Relations
& Corporate Communications, +49-89-8565-2693, ir@gpc-biotech.com,
or In the U.S.: Laurie Doyle, Director, Investor Relations &
Corporate Communications, +1-781-890- 9007 X267,
usinvestors@gpc-biotech.com
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