Biomm S.A. announced that it has received BRL 10.81 million in funding from BDMGTEC SA, BNDES Participações S/A - BNDESPAR, Tekbio Fundo de Investimento em Participacoes, TMG Partners, LLC, TMG Servicos de Gestao Ltda., and other investors.
January 04, 2014 at 09:30 am IST
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Biomm SA (BOVESPA:BIOM4) announced a private placement of common shares on March 28, 2012. The company signed the non binding memorandum of understanding with investors, TMG Servicos de Gestao Ltda., TMG Capital, and Tekbio Fundo de Investimento em Participacoes. The investors will hold a minority stake in the company. The definitive agreements with investors is subject to satisfactory negotiation of the contracts, and certain conditions precedent, among others, the realization of a satisfactory legal, environmental, accounting, financial and operational audit.
On April 16, 2013, the company announced that it has signed the agreement with the investors. The company will issue 11,535,126 to 17,346,053 common shares at BRL 11.53 per share for minimum, BRL 133,000,002.78 and maximum of BRL 199,999,991.09. The transaction will also include participation from new investors, BNDES Participações S/A - BNDESPAR and BDMGTEC SA and current shareholders for at least, BRL 49,103,226.08 through issuance of 4,258,736 shares. TMG Partners, LLC will subscribe to 6,071,119 common shares at BRL 11.53 per share for BRL 70,000,002.07. The transaction is subject to of certain conditions including the approval of the Brazilian antitrust authorities and contract signing the subscription with BNDES Participacoes SA BNDESPAR and BDMGTEC SA for financial support through trigger participation.
On the same day, the company announced that the transaction was approved by Banco de Desenvolvimento de Minas Gerais S.A. and Banco Nacional de Desenvolvimento Economico e Social. The approval is still pending signing of final documents and fulfillment of certain conditions precedent.
On May 28, 2013, the company announced that it has signed an agreement for the transaction with TMG Partners, LLC.
On June 6, 2013, the company announced that FINEP Agencia Brasileira da Inovacao approved the transaction. The approval was for proceeds of up to BRL 70,437,995.99.
On September 19, 2013, the company announced that 1,656,827 shares will be subscribed by BNDES Participações S/A - BNDESPAR for BRL 19,103,215.31, 1,734,606 shares will be subscribed by BDMGTEC SA for BRL 20,000,007.18, 6,678,231 shares will be subscribed by TMG Partners, LLC, which will participate through IBR LP, a company controlled by its fund TMG II PE Fund L.P. for BRL 77,000,003.43, and 1,431,050 shares will be subscribed by current controllers of the company for BRL 16,500,006.50.
On October 28, 2013, the company announced that the transaction has been approved by The Administrative Council for Economic Defense.
On November 20, 2013, the company announced that the transaction was approved by the shareholders of the company.
On January 4, 2014, Biomm SA closed the transaction. The company issued 937,412 shares for gross proceeds of BRL 10,808,360.36.
Biomm SA, formerly Savicevic Participacoes SA, is a Brazil-based company primarily engaged in the biotechnology industry. The Company is principally engaged in the development and licensing of technology for the production of human insulin and other recombinant proteins. The Companyâs technology is suitable for the production of therapeutic proteins, which are used in the production of drugs and biopharmaceuticals. The Companyâs technology for insulin production is protected by patents in various countries in Europe, Asia, North and South America. In addition, it is active in the development of production process of enzymes that are used in the hydrolysis of biomass and in the manufacture of bio-fuel. As of December 31, 2011, the Companyâs subsidiaries were Biomm International Inc, Biomm Middle East Inc and Biomm Russia Ltd.
Biomm S.A. announced that it has received BRL 10.81 million in funding from BDMGTEC SA, BNDES Participações S/A - BNDESPAR, Tekbio Fundo de Investimento em Participacoes, TMG Partners, LLC, TMG Servicos de Gestao Ltda., and other investors.