A major new investor just arrived at the biotech party, as Evotec nets $295M from Mubadala and Novo
Germany’s Evotec has a new minority stakeholder, one that’s providing a hefty heaping of initial cash.
Mubadala Investment Company, the UAE’s sovereign wealth fund, has acquired $236 million worth of shares in a private placement, good for about 5.6% of the company. The fund purchased the shares at $25.67, with Evotec giving Mubadala a 3.4% discount on its price at market close Monday.
In addition, existing investor Novo increased its stake in Evotec to 11% by chipping in another $59 million. That brings the total sum raised to about $295 million, or €250 million flat.
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