Intercell AG

EANS-Adhoc: Intercell starts offering of EUR 30.8m senior convertible debt financing

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
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Company Information

22.02.2011

Vienna, February 22, 2011 - Intercell AG (Vienna Stock Exchange, ICLL) today announced the offering of EUR 30.8m of Senior Unsecured Convertible Notes (the "Notes"). The Notes will be placed in a non-public offering to institutional investors through an accelerated overnight book-building process which starts today after market close and is expected to be completed on Wednesday, February 23, 2011.

The expected terms include a coupon of up to 6% per annum and a conversion premium to today's closing share price. The principal amount will amortize over three years in quarterly installments. Principal and interest payments under the Notes may be paid in cash or, subject to minimum thresholds in trading volumes and values, in freely tradable listed shares of Intercell, at the sole option of the Intercell. Statutory subscription rights of the existing shareholders will be excluded.

The original investors in the Notes will have the right to purchase an additional EUR 30.8m of Notes on the same terms as the original issue for a period of 12 months following the closing and an additional EUR 15.4m of Notes for a period of 18 months following the closing.

The final terms of the Notes are expected to be fixed on Wednesday, February 23, 2011 based on the results of a book-building procedure and will be announced without undue delay. The book-building is managed by Erste Group Bank AG.

end of announcement                               euro adhoc
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Contact:

Intercell AG
Lucia Malfent
Vice President, Global Head Corporate Communications
Tel. +43 1 20620-1303
lmalfent@intercell.com

Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Index: ATX Prime, ATX
Börsen: Wien / official market


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