ObsEva SA’s $20 Million Private Placement Of Common Shares

Lenz & Staehelin is advising ObsEva in this transaction. Pestalozzi advised H.C. Wainwright & Co. as to all matters of Swiss law and rules of the SIX Swiss Exchange.

ObsEva SA, a clinical-stage biopharmaceutical company listed on Nasdaq and SIX Swiss Exchange, announced a USD 20.0 million underwritten offering and concurrent private placement of common shares, priced at-the-market, and the issuance of 15-month purchase warrants for potential additional gross proceeds of up to USD 23.9 million.

In this transaction, H.C. Wainwright & Co., as underwriter, has agreed to purchase on a firm commitment basis an aggregate of 6,448,240 units, with each unit comprised of one common share (or pre-funded warrant) and one 15-month purchase warrant to purchase one common share at an exercise price of USD 3.43 per share. The underwritten offering closed on September 8, 2020.

Concurrently with the underwritten offering, ObsEva announced a private placement in which the CEO of the company has agreed to purchase 516,352 units, with each unit comprised of one common share and one 15-month purchase warrant to purchase one common share at an exercise price of USD 3.43 per share. The private placement is expected to close in the course of the month of September 2020.

Lenz & Staehelin is advising ObsEva in this transaction with a team led by Jacques Iffland (Capital Markets, in picture) and consists of Federico Trabaldo Togna (Corporate and M&A), Ariel Ben Hattar (Capital Markets), Jenny Benoit-Gonin (Tax) and Vincent Huynh Dac (Capital Markets).

Pestalozzi advised H.C. Wainwright & Co. on the deal with a team included Christian Leuenberger (Lead Partner – Capital Markets, Corporate / M&A), Severin Roelli (Partner – Corporate / M&A) and Monika Maric (Junior Associate – Corporate / M&A).

Involved fees earner: Ariel Ben Hattar – Lenz & Staehelin; Jenny Benoit-Gonin – Lenz & Staehelin; Vincent Huynh Dac – Lenz & Staehelin; Jacques Iffland – Lenz & Staehelin; Federico Trabaldo Togna – Lenz & Staehelin; Christian Leuenberger – Pestalozzi; Monika Maric – Pestalozzi; Severin Roelli – Pestalozzi;

Law Firms: Lenz & Staehelin; Pestalozzi;

Clients: H.C. Wainwright & Co.; ObsEva SA;