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Shareholders' equity
 12 Months Ended
Dec. 31, 2016
Shareholders' equity  
Shareholders' equity

11    Shareholders' equity

        As of December 31, 2016, the Company's authorized share capital is €3.0 million (exchange rate as of December 31, 2016, of 1.05204 $ / €; $3.2 million), divided into 60,000,000 common shares, each with a nominal value of €0.05. Under Dutch law, the authorized share capital is the maximum capital that the Company may issue without amending its articles of association. In preparation of its February 2014 IPO, the Company converted its class A, class B and class C common shares into one single class of common shares.

        All shares issued by the Company were fully paid. Besides the minimum amount of share capital to be held under Dutch law, there are no distribution restrictions applicable to the equity of the Company.

        As of December 31, 2016, and 2015 and 2014 the Company's reserves were restricted for payment of dividends for accumulated foreign currency translation losses of $6.6 million, $6.8 million and $5.3 million, respectively.

        On February 5, 2014, the Company issued 5,400,000 ordinary shares at an initial public offering price of $17.00 per share, with net proceeds, after deducting underwriting discounts and net of offering expenses of $84.5 million.

        On April 15, 2015, the Company issued 3,000,000 ordinary shares at a public offering price of $29.50 per share, with net proceeds, after deducting underwriting discounts and net of offering expenses of $82.5 million.

        In the year ended December 31, 2015 the Company issued shares to BMS upon extinguishment of derivative obligations following the collaboration agreement:

                                                                                                                                                                                    

 

 

Ordinary shares

 

 

 

 

 

 

 

Additional
paid-in
capital

 

Total
shareholders'
equity

 

 

 

No. of shares

 

Amount

 

 

 

in thousands, except share and per share amounts

 

Issuance of shares at $33.84 per share on June 12, 2015

 

 
1,112,319

 

$
61

 

$
37,579

 

$
37,640

 

Extinguishment of derivative upon issuance of shares on June 12, 2015

 

 

—

 

 

—

 

 
(4,972

)

 
(4,972

)

Issuance of shares at $29.67 per share on August 7, 2015

 

 
1,275,789

 

 
71

 

 
37,782

 

 
37,853

 

Extinguishment of derivative upon issuance of shares on August 7, 2015

 

 

—

 

 

—

 

 
1,410

 

 
1,410

 

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Balance at December 31, 2015

 

 
2,388,108

 

$
132

 

$
71,799

 

$
71,931

 

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