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The Netherlands
(State or other Jurisdiction of
Incorporation or Organization) |
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3711
(Primary Standard Industrial
Classification Code Number) |
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Not Applicable
(I.R.S. Employer
Identification Number) |
|
|
Krystian M. Czerniecki
Clemens Rechberger Sullivan & Cromwell LLP Neue Mainzer Straße 52 60311 Frankfurt Germany +49 (69) 4272 5200 |
| |
Paul van der Bijl
NautaDutilh N.V. Beethovenstraat 400 1082 PR Amsterdam The Netherlands +31 (20) 717-1000 |
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Page
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EXPLANATORY NOTE | | | | | | | |
| | | | ii | | | |
| | | | iv | | | |
| | | | 1 | | | |
| | | | 12 | | | |
| | | | 16 | | | |
| | | | 18 | | | |
| | | | 19 | | | |
| | | | 22 | | | |
| | | | 23 | | | |
| | | | 44 | | | |
| | | | 64 | | | |
| | | | 67 | | | |
| | | | 68 | | | |
| | | | 70 | | | |
| | | | 71 | | | |
| | | | 72 | | |
| | |
For the year ended December 31,
|
| | |
For the nine-month periods
ended September 30, |
| ||||||||||||||||||||||||
| | |
2021
|
| |
2020
|
| |
2019
|
| | |
2022
|
| |
2021
|
| |||||||||||||||
| | |
(in € millions)
|
| | |
(in € millions)
|
| ||||||||||||||||||||||||
Revenue
|
| | | | 0.0 | | | | | | — | | | | | | — | | | | | | | 0.2 | | | | | | — | | |
Cost of sales
|
| | | | (0.0) | | | | | | — | | | | | | — | | | | | | | (0.3) | | | | | | — | | |
Gross profit
|
| | |
|
(0.0)
|
| | | |
|
—
|
| | | |
|
—
|
| | | | |
|
(0.1)
|
| | | | | — | | |
Cost of research and development
|
| | | | (40.6) | | | | | | (30.5) | | | | | | (4.9) | | | | | | | (89.2) | | | | | | (27.2) | | |
Selling and distribution expenses
|
| | | | (3.2) | | | | | | (9.1) | | | | | | (2.1) | | | | | | | (2.4) | | | | | | (2.3) | | |
General and administrative
expenses |
| | | | (15.1) | | | | | | (14.4) | | | | | | (2.4) | | | | | | | (13.3) | | | | | | (9.9) | | |
Other operating income/expenses
|
| | | | (0.2) | | | | | | (0.0) | | | | | | 0.2 | | | | | | | 2.0 | | | | | | 0.3 | | |
Impairment losses on financial
assets |
| | | | (0.0) | | | | | | (0.0) | | | | | | — | | | | | | | 0 | | | | | | — | | |
Operating loss
|
| | |
|
(59.2)
|
| | | |
|
(54.0)
|
| | | |
|
(9.3)
|
| | | | |
|
(103.0)
|
| | | |
|
(39.0)
|
| |
Interest and similar income
|
| | | | — | | | | | | 0.0 | | | | | | — | | | | | |
|
—
|
| | | |
|
—
|
| |
Interest and similar expense
|
| | | | (4.8) | | | | | | (2.0) | | | | | | (0.7) | | | | | | | (1.5) | | | | | | (3.4) | | |
Loss before tax
|
| | |
|
(63.9)
|
| | | |
|
(56.0)
|
| | | |
|
(10.0)
|
| | | | |
|
(104.5)
|
| | | |
|
(42.4)
|
| |
Taxes on income
|
| | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | |
Deferred taxes on expense
|
| | | | 0.0 | | | | | | — | | | | | | — | | | | | | | — | | | | | | (0.1) | | |
Loss for the period
|
| | |
|
(64.0)
|
| | | |
|
(56.0)
|
| | | |
|
(10.0)
|
| | | | |
|
(104.5)
|
| | | |
|
(42.5)
|
| |
Other comprehensive income (loss)
that will not be reclassified to profit or loss |
| | | | 0.0 | | | | | | (0.0) | | | | | | — | | | | | | | — | | | | | | 0.1 | | |
Total comprehensive loss for the
period |
| | |
|
(63.9)
|
| | | |
|
(56.1)
|
| | | |
|
(10.0)
|
| | | | |
|
(104.5)
|
| | | |
|
(42.4)
|
| |
Loss per share in € | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic/diluted(1)
|
| |
(1.07)/(1.07)
|
| |
(0.97)/(0.97)
|
| |
(0.18)/(0.18)
|
| | |
(1.30)/(1.30)
|
| |
(0.69)/(0.69)
|
| |||||||||||||||
Weighted average number of share for
calculation of earnings per share |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic/diluted(1)
|
| | | | 59,836,824 | | | | | | 57,684,220 | | | | | | 56,860,720 | | | | | | | 80,319,203 | | | | | | 61,279,008 | | |
| | |
For the year ended
December 31, |
| | |
For the nine-month periods
ended September 30, |
| ||||||||||||||||||||||||
| | |
2021
|
| |
2020
|
| |
2019
|
| | |
2022
|
| |
2021
|
| |||||||||||||||
| | |
(in € millions)
|
| | |
(in € millions)
|
| ||||||||||||||||||||||||
Net cash used in operating activities
|
| | | | (47.1) | | | | | | (1.2) | | | | | | (8.8) | | | | | | | (109.4) | | | | | | (30.8) | | |
Net cash used in investing activities
|
| | | | (1.7) | | | | | | (0) | | | | | | (1.1) | | | | | | | (39.9) | | | | | | (1.3) | | |
Net cash from (used in) financing activities
|
| | | | 138.6 | | | | | | 44.1 | | | | | | 8.8 | | | | | | | 47.6 | | | | | | 0.4 | | |
Net (decrease) increase in cash and cash equivalents
|
| | |
|
89.8
|
| | | |
|
42.9
|
| | | |
|
(1.1)
|
| | | | |
|
(101.6)
|
| | | |
|
(31.7)
|
| |
Cash and cash equivalents at the beginning of the period
|
| | | | 43.3 | | | | | | 0.4 | | | | | | 1.5 | | | | | | | 132.9 | | | | | | 43.3 | | |
Cash and cash equivalents at end of period
|
| | |
|
132.9
|
| | | |
|
43.3
|
| | | |
|
0.4
|
| | | | |
|
33.4
|
| | | |
|
11.6
|
| |
| | |
As of December 31,
|
| | |
As of September 30,
|
| ||||||||||||
| | |
2021
|
| |
2020
|
| | |
2022
|
| |||||||||
| | |
(in € millions)
|
| | |
(in € millions)
|
| ||||||||||||
Total non-current assets
|
| | | | 4.9 | | | | | | 4.1 | | | | | | | 46.5 | | |
Total current assets
|
| | | | 142.4 | | | | | | 49.2 | | | | | | | 57.4 | | |
Total assets
|
| | | | 147.3 | | | | | | 53.3 | | | | | | | 103.9 | | |
Total equity
|
| | | | 83.4 | | | | | | (5.0) | | | | | | | 28.8 | | |
Total liabilities
|
| | | | 63.9 | | | | | | 58.4 | | | | | | | 75.1 | | |
Total equity and liabilities
|
| | | | 147.3 | | | | | | 53.3 | | | | | | | 103.9 | | |
Name of Selling Shareholder
|
| |
Ordinary
shares beneficially owned prior to the offering |
| |
% of ordinary
shares owned prior to the offering |
| |
Maximum
number of ordinary shares to be offered by this prospectus(1) |
| |
Maximum
number of ordinary shares to be offered by this prospectus a % of currently outstanding ordinary shares(2) |
| |
Number of
ordinary shares beneficially owned following the offering |
| |
% of ordinary
shares beneficially owned following the offering |
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YA II PN, Ltd.(3)
|
| | | | — | | | | | | — | | | | | | 30,000,000 | | | | | | 33.1% | | | | | | 0 | | | | | | 0% | | |
| | |
As of September 30, 2022
|
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| | |
Actual
|
| |
Adjustments
for sales to the ELOC Investor |
| |
Adjustments
for issue and sale of all convertible debentures(1) |
| |
As
adjusted |
| ||||||||||||
| | |
(in € millions)
|
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Cash and cash equivalents
|
| | | | 33.4 | | | | | | 6.7 | | | | | | 28.2 | | | | | | 68.3 | | |
Long-term debt (including current portion)
|
| | | | 7.6 | | | | | | — | | | | | | 29.2 | | | | | | 36.8 | | |
Equity: | | | | | | | | | | | | | | | | | | | | | | | | | |
Subscribed capital
|
| | | | 9.6 | | | | | | 0.3 | | | | | | — | | | | | | 9.9 | | |
Capital and other reserves
|
| | | | 270.7 | | | | | | 6.4 | | | | | | — | | | | | | 277.1 | | |
Accumulated deficit
|
| | | | (251.6) | | | | | | — | | | | | | (1.0) | | | | | | (252.6) | | |
Total equity
|
| | | | 28.8 | | | | | | 6.7 | | | | | | (1.0) | | | | | | 34.5 | | |
Total capitalization
|
| | | | 36.4 | | | | | | 6.7 | | | | | | 28.2 | | | | | | 71.3 | | |
| | |
Amount
|
| |||
SEC registration fee
|
| | | $ | 25,919.04 | | |
FINRA filing fee
|
| | | | * | | |
Printing and engraving expenses
|
| | | | * | | |
Legal fees and expenses
|
| | | | * | | |
Accounting fees and expenses
|
| | | | * | | |
Miscellaneous costs
|
| | | | * | | |
Total
|
| | | | * | | |
| | |
Page
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| | | | 2 | | | |
| | | | 9 | | | |
| | | | 14 | | | |
| | | | 16 | | | |
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| | | | 59 | | | |
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