SynAct Pharma AB (“SynAct Pharma”) today announced that the company’s rights issue of approximately SEK 22.4 million was oversubscribed. The rights issue was subscribed to a value of approximately SEK 43.7 million, corresponding to a subscription rate of approximately 196 percent. Through the rights issue, 2,257,718 shares will be issued and SynAct Pharma will raise approximately SEK 22.4 million before issue costs. The issue costs are estimated to amount to approximately SEK 1.7 million. Sales notes are calculated to be sent out today, 14th May 2018.
CEO Jeppe Øvlesen comments
“I would like to thank everyone who has chosen to participate in the rights issue. The capital injection enables an expansion of our planned phase IIa clinical trial with candidate drug AP1189 and an extension of our preclinical pharmacology programme. This is in order to widen the potential area of use and thus the commercial potential of the candidate drug.”
Subscription and allocation in the rights issue
The rights issue was subscribed to a value of SEK 43,717,043.70 including subscription commitments, corresponding to a subscription ratio of approximately 196 percent. 2,257,718 shares have been issued and SynAct Pharma has therefore raised approximately SEK 22.4 million before issue costs, which are estimated to amount to approximately SEK 1.7 million. 2,196,996 shares, corresponding to approximately 97.3 percent of the subscribed volume, are assigned to subscribers with preferential rights. Those allocated shares without preferential rights will receive sales notes, which are calculated to be sent out today, on 14th May 2018. Subscribers not allocated shares will not receive sales notes.
Number of shares and share capital
When the rights issue has been registered with the Swedish Companies Registration office, the number of shares in SynAct Pharma will amount to 14,675,167 shares and the share capital will amount to SEK 183,439,587.50.
Flagging in Quantasse ApS
On the occasion of the recent rights issue, Quantasse ApS was flagged. Quantasse ApS’s shareholding amounted to approximately 11 percent of the shares and capital of the company before the rights issue and amounts to approximately 9.5 percent of the shares and capital of the company after implementation of the rights issue.
Trading in BTA
Trading in BTA (Betald Tecknad Aktie – Paid subscribed shares) will take place on AktieTorget until the new issue has been registered with the Swedish Companies Registration Office. This registration is expected to take place in week 21, 2018.
Financial advisor
Sedermera Fondkommission is the financial advisor to SynAct Pharma in connection with the rights issue.
For further information about SynAct Pharma AB, please contact:
Jeppe Øvlesen
CEO, SynAct Pharma AB
Telephone: +45 28 44 75 67
E-mail: [email protected]
Henrik Stage
CFO, SynAct Pharma AB
Telephone +45 40 26 90 00
E-mail: [email protected]