On September 22, 2016, AC Immune successfully
priced a 6.0 million common share IPO at USD 11.00 per share. On the same day, the underwriters exercised the overallotment option
which resulted in a further 900,000 common shares being placed in the market and took the total number of shares offered to investors
to 6.9 million common shares. The gross proceeds received were USD 75.9 (CHF 74.5) million while the proceeds net of underwriting
fees amounted to USD 70.6 (CHF 69.3) million.
The IPO resulted in an increase of CHF
64.2 million in the share premium of AC Immune excluding the effect of transaction costs associated with the IPO related to the
issuance of new shares. Transaction costs associated with the IPO and related to the issuance of new shares were charged directly
against the share premium account thereby reducing the total equity reported.
On July 24, 2018, the Company announced
that it had closed the first subscription rights offering and underwritten primary offering of its common shares, and that the
underwriters had exercised in full their option to purchase an additional 1,108,695 shares at a price per share of USD 11.75. The
underwriters’ exercise of the option to purchase additional shares brought the total number of common shares sold by the
Company to 8,500,000 shares, resulting in total gross proceeds raised in these offerings, before underwriting discounts and estimated
expenses of the offering, to approximately USD 99.9 (CHF 98.9) million. On July 20, 2018, the Company commenced a second subscription
rights offering of up to 1,500,000 shares. At closing of the second subscription rights offering on July 31, 2018, the Company
issued 1,500,000 additional common shares, resulting in gross proceeds of approximately USD 17.6 (CHF 17.4) million.
At the conclusion of these three offerings,
the Company raised gross proceeds of USD 117.5 (CHF 116.3) million. Net underwriting fees and transaction costs totaled CHF 6.8
million for a net total of CHF 109.5 million. Transaction costs associated with these offerings and related to the issuance of
new shares were charged directly against the share premium account thereby reducing the total equity reported.
Shelf Registration Statement
On May 4, 2018, the Company filed a shelf
registration statement on Form F-3 (Reg. No. 333-2246694) (the “Shelf Registration Statement”) with the SEC. The Shelf
Registration Statement was declared effective by the SEC on June 8, 2018.
The Shelf Registration Statement allows
the Company to offer and sell, from time to time, up to USD 350,000,000 of common stock, debt securities, warrants, purchase contracts,
units, subscription rights or any combination of the foregoing in one or more future public offerings. The terms of any future
offering would be determined at the time of the offering and would be subject to market conditions and approval by the Company’s
Board of Directors. Any offering of securities covered by the Shelf Registration Statement will be made only by means of a written
prospectus and prospectus supplement authorized and filed by the Company.
Since the Company raised USD 117,500,000
in its three offerings completed in July 2018, the Company may execute one or more future offering of securities covered by the
Shelf Registration Statement up to USD 232,500,000.
|9.||Trade payables, accrued liabilities and deferred income
|in CHF thousands
|Trade and other payables
|Accrued research and development costs
|Accrued payroll expenses
|Other accrued expenses