SynAct Pharma AB’s issue before listing oversubscribed

On June 8, 2016, the subscription period for SynAct Pharma AB’s (“SynAct”) issue of units for listing on Aktietorget ended. The issue was subscribed to the value of SEK 66 million including subscription commitments, corresponding to a subscription ratio of approximately 203 percent. Through the issue, SynAct gains approximately 2 400 new shareholders and SEK 32.3 million, before issue costs of approximately SEK 2 million. The first day of trading is estimated to be on 11 July 2016.

Subscription and allocation

The issue was subscribed to the value of SEK 66 million including subscription commitments, corresponding to a subscription ratio of approximately 203 percent. The issue saw 5 050 000 new shares and 2 020 000 series TO 1 subscription options. SynAct thus initially raised SEK 32.3 million, before issue costs of approximately SEK 2 million. Sales notes have been sent out.

CEO Jeppe Øvlesen comments

“It is gratifying that interest in SynAct is so great. With the help of the capital we raised, we now have the resources to carry out a Phase I clinical study and planning and preparation for the forthcoming Phase II study with the candidate drug AP1189, with a focus on the psoriatic arthritis indication.

Listing on Aktietorget

The first day of trading in Synact’s shares and series TO 1 subscription options on Aktietorget is planned to be 11 July 2016.

Number of shares and share capital

When Synact’s issue is has been registered with the Swedish Companies Registration office, there will be a total of 12 260 021 shares and the share capital of SEK 1,532,502.6250. In addition, there are 2 020 000 outstanding series TO 1 subscription options.

Summary of terms and conditions for series TO 1 subscription options

Possession of a series TO 1 subscription option entitles the holder to subscribe for a newly issued share at a rate of SEK 6.40 per share. Subscription to shares with the support of series TO 1 subscription options may take place from 9 March 2017 until 23 March 2017.

Financial advisor

Sedermera Fondkommission is acting as financial advisor to SynAct in connection with the company’s issue and listing.

For further information regarding the issue, please contact:

Sedermera Fondkommission
Telephone: 0431-47 17 00
E-mail: info@sedermera.se

For further information about SynAct Pharma AB, please contact:

Jeppe Øvlesen
CEO, SynAct Pharma AB
Telephone: +45 28 44 75 67
E-mail: joo@synactpharma.com

Henrik Stage
CFO, SynAct Pharma AB
Telephone: +45 40 26 09 00
E-mail: hs@synactpharma.com

SynAct Pharma AB, Company registration number 559058-4826, is a biotech company that conducts research and development in inflammatory diseases via the wholly owned Danish subsidiary, SynAct Pharma ApS. The company has a platform technology based on a new class of drug candidate targeting acute deterioration in chronic inflammatory diseases, with the primary purpose of stimulating natural healing mechanisms. SynAct Pharma’s main focus is on the development of the candidate drug AP1189, which strengthens the body’s own cells and fights flares in inflammation by accelerating recovery and thereby reducing the risk of chronic inflammation deterioration.