Bifogade filer
Final outcome in AlzeCure’s oversubscribed rights issue
Martin Jönsson CEO And Johan Sandin CSO AlzeCure Pharma
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Läkemedel & Handel |
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO RUSSIA, BELARUS, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE SUCH ACTION IS IN WHOLE OR IN PART FOR LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO ACQUIRE SECURITIES IN ALZECURE. SEE THE "IMPORTANT INFORMATION" SECTION BELOW.
AlzeCure Pharma AB ("AlzeCure" or "the Company"), a pharmaceutical company that develops a broad portfolio of small molecule drug candidates for diseases affecting the central nervous system, with projects in both Alzheimer’s disease and pain, today announced the final outcome of the rights issue with preferential rights for the shareholders (the “Rights Issue") that ended on December 20, 2022. The subscription breakdown shows that approximately 134.3 percent was subscribed with and without the exercise of subscription rights, whereof approximately 0.4 percent by offset of receivables, equal to 32 270 shares. Due to the great interest, the board of the Company has decided to expand the offer through over-allotment (the "Over-allotment Option") with the support of authorization from the Annual General Meeting on May 17, 2022. AlzeCure therefore obtains SEK 42,5 million before issuing costs. No renumeration is due for the underwriting commitments the Company received in connection with the Rights Issue and which will not be exercised. Those who have been allocated shares without the support of subscription rights will be notified by contract note alternatively through their nominee.
The subscription period for the Rights Issue ended on December 20, 2022 and the final summary shows that 6,238,705 shares, corresponding to approximately 73.8 percent, were subscribed for by the exercise of subscription rights. In addition, the Company received interest from investors of subscribing an additional 5,114,942 shares without the support of subscription rights, corresponding to approximately 60.5 percent for a total subscription with and without the exercise of subscription rights of 134.3 percent, whereof approximately 0.4 percent by offset of receivables, equal to 32 270 shares. Due to the great interest, the board of the Company has decided to issue additional 2,898,087 shares with the support of authorization from the Annual General Meeting on May 17, 2022. AlzeCure therefore obtains SEK 42.5 million before issue costs. No renumeration is due for the underwriting commitments the Company received in connection with the Rights Issue and which will not be exercised. Notification of allotment of shares subscribed for without exercising subscription rights will shortly be sent to those who have been allotted shares via contract note. Nominee shareholders receive notification of allotment in accordance with the respective nominee's routines. Allocation of shares subscribed for without the exercise of subscription rights has been carried out in accordance with the principles stated in the prospectus that was published on December 1, 2022.
“The strong support from existing and new shareholders in our oversubscribed rights issue shows the trust in AlzeCure Pharma and our research, as well as the interest in continuing to support and take part in our world-leading research in Alzheimer's and pain also in the future. We are very grateful for and strengthened by the support and the progress made in 2022. We see it as a statement of strength for the company that the new issue is oversubscribed in the tough market situation that prevails, and despite the fact that that no renumeration is due for the underwriting commitments AlzeCure received in connection with the rights issue. Going forward, we will put our focus on continuing to deliver in our various projects where, among other things, we look forward to phase II results in Painless ACD440, determine the continued development path with NeuroRestore® ACD856 together with input from the FDA, progress with Alzstatin® ACD680 and TrkA-NAM to the next steps. In parallel, we have a continued strong focus on business development with the goal of securing an out-licensing deal for one of our projects. With the funding we have now secured, we are looking forward to an eventful and productive 2023,” says Martin Jönsson, CEO AlzeCure.
Share capital and number of shares
After the Rights Issue is registered with The Swedish Companies Registration Office the Company’s share capital will increase with SEK 283,841.175 to SEK 1,552,175.30. The number of shares will increase with 11,353,647 shares to 62,087,012 shares.
Trading in paid subscribed shares
Trading in paid subscribed shares ("BTA") will take place on the Nasdaq First North Growth Market until the week after the Rights Issue has been registered with the Swedish Companies Registration Office. ISIN code and the first day of trading with the paid subscribed share issued for subscribed shares within the Over-allotment Option ("BTA 2") will be announced at a later date. Registration of the Rights Issue is expected to take place at the beginning of January 2023.
Advisors
Erik Penser Bank AB is financial advisor and Synch Advokat AB is legal advisor to AlzeCure in connection with the Rights Issue.