Jeantet advises Global Bioenergies in the context of its share capital increase with preferential subscription rights on Euronext Growth Paris

 

Paris, March 31, 2023 – Jeantet advised GLOBAL BIOENERGIES, an innovative company working on converting plant-derived resources into isododecane and other compounds used in the cosmetics industry, in the context of its share capital increase with preferential subscription rights of the shareholders on Euronext Growth Paris market for a total amount of €5.6 million.

Under the terms of this transaction, a total of 2,707,452 new shares were subscribed at an issuance price of €2.07 per share.

In accordance with their subscription commitments, Marc Delcourt, Chief Executive Officer and co-founder of GLOBAL BIOENERGIES, and the L’Oréal Group, through its BOLD (Business Opportunities for L’Oréal Development) private equity fund, participated in the transaction on an irreducible basis in the amount of €160 thousand and €980 thousand respectively. During the subscription period, the Cristal Union Group also subscribed in proportion to its share of GLOBAL BIOENERGIES’ share capital (1.3%), in the amount of €100 thousand.

This share capital increase, whose subscription period opened from March 10 to March 24, 2023, will provide GLOBAL BIOENERGIES with the means to finance:

  • working capital requirements for the Horizon 2 production line (approximately 50% of the offering proceeds);
  • further preliminary design studies for the Horizon 3 plant, known as ViaViridia (approximately 40% of the offering proceeds);
  • additional R&D to further reduce process costs with a view to exploitation at Horizon 4 for the production of sustainable aviation and road fuels (approximately 10% of the offering proceeds).

The settlement-delivery of the new shares issued in the framework of this share capital increase and their listing on Euronext Growth Paris will take place on March 31, 2023.

TP ICAP Midcap acted as Global Coordinator.

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