The subscription period for SynAct Pharma AB’s rights issue begins today

Today, 19th April 2018, the subscription period for SynAct Pharma AB’s (“SynAct”) rights issue begins. The public is also invited to subscribe for shares in the rights issue. The subscription period runs until 8th May 2018. In the case of a fully subscribed rights issue, SynAct will raise approximately SEK 22.4 m before issue costs. SynAct has agreed in writing, in advance, to subscription commitments of approximately SEK 9.1 million, corresponding to approximately 41 percent of the issue volume, including members of the Board of Directors, management and principal owners. The memorandum, teaser and application form are available on SynAct’s (www.synactpharma.com) and Sedermera Fondkommission’s (www.sedermera.se) websites respectively. It is also possible to subscribe for shares with BankID on Sedermera Fondkommission’s website.

Reasons for the rights issue

SynAct Pharma has identified an attractive opportunity to expand the potential area of use from psoriatic arthritis (PsA) to also include rheumatoid arthritis, thereby increasing the commercial potential of the candidate drug. The company also intends to continue the pharmacology program to evaluate the potential of AP1189 in further indications where the melanocortin system is involved and where ACTH based drugs, which also operate via melanocortin receptors, are today used as a treatment. At present. ACTH is used for hard-to-treat cases of rheumatologic diseases and the indications of systemic lupus (SLE), multiple sclerosis (MS) and nephrotic syndrome (NS). Therefore, in order to expand the clinical and pre-clinical studies, SynAct Pharma plans to implement a rights issue of approximately SEK 22.4 million.

The offer in brief

Preferential rights and record date: The last day of trading in SynAct Pharma’s shares including the right to receive subscription rights is 11th April 2018 and the first day excluding the right to receive subscription rights is 12th April 2018. The record date is 13th April 2018. One (1) subscription right can be redeemed for each existing share. Possession of eleven (11) subscription rights entitles the holder to subscribe to two (2) new shares.
Subscription period: 19th April – 8th May 2018.
Subscription price: SEK 9.90 per share.
Size of issue : The offer comprises a maximum of 2,257,718 shares, equivalent to SEK 22 351,408. The public is also given the opportunity to subscribe for shares in the rights issue.
Number of shares before new issue: 12, 417,449 shares.
Pre-money valuation: Approximately SEK 123 million.
Trading in subscription rights: Trading in subscription rights will take place on AktieTorget between 19th April 2018 and 4th May 2018.
Trading in BTA: Trading in BTA (Betald Tecknad Aktie – Paid subscribed shares) will take place on Aktietorget from 19 April 2018 until the new share issue has been registered with the Swedish Companies Registration Office. This registration is estimated to take place at the end of May 2018.
Subscription commitments The company has received subscription commitments totalling approximately SEK 9.1 million, totalling approximately 41 percent of the issue volume.
Marketplace: SynAct’s shares are quoted on AktieTorget.

Full terms and conditions, information about subscription commitments and memorandum, teaser and application form without preferential rights are now published on the company’s (www.synactpharma.com) and Sedermera Fondkommission’s (www.sedermera.se) websites. It is also possible to subscribe to shares with BankID on Sedermera Fondkommission’s website.

Investor meetings

In connection with the rights issue, representatives of SynAct will be present at investor meetings to provide information about the activities and the company’s future plans. Investor meetings are free to attend and light refreshments are offered. For further information about the meetings, please visit Sedermera Fondkommission’s website (www.sedermera.se) or contact Sedermera Fondkommission by telephone: +46 (0)40-615 14 10, or e-mail via event@sedermera.se.

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: joo@synactpharma.com

Thomas Jonassen
CSO, SynAct Pharma AB
Telephone: +45 40 15 66 69
E-mail: tj@synactpharma.com