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LIDDS completes a directed issue raising SEK 8.9 million
The board of directors of LIDDS AB has decided to carry out a directed issue of 641.200 shares at a subscription price of SEK 13.85 per share. LIDDS will through the directed share issue receive proceeds amounting to SEK 8.9 million, before transaction costs.
The board of directors of LIDDS has, based on the authorization given by the annual general meeting on May 16, 2018, decided to carry out a directed issue of 641.200 shares to Swedish and international investors.
The subscription price in the Directed Share Issue is set to SEK 13.85 and has been determined by closing market price on May 14, 2019. Through the Directed Share Issue, LIDDS will raise SEK 8.9 million before transaction costs. The subscription price in the Directed Share Issue constitutes no discount compared the closing price on 14 May 2019.
The Directed Share Issue entails a dilution of approximately 2.7 percent of the number of shares and the votes in the Company. Through the Directed Share Issue, the number of outstanding shares and votes will increase by 641,200 shares from 23,051,188 shares to 23,692,388 shares. The share capital will increase by SEK 33,983.60 from SEK 1,221,712.96 to SEK 1,255,696.56.
The reason for the deviation from the shareholders' preferential rights, is to strengthen the shareholder base and to finance LIDDS' exciting development projects. The Directed Share Issue will primarily be used to finance the NZ-TLR9 project including the Phase I clinical trial of the same proprietary drug candidate.
Subscribers in the Directed Share Issue are Wikow Invest, BWG Invest together with new and existing large shareholders.
Advisers
Advokatfirman Delphi is legal adviser in connection with the Directed Share Issue.
For additional information, please contact:
Monica Wallter, CEO, LIDDS +46 (0)737 07 09 22 monica.wallter@liddspharma.com
This information is such that LIDDS AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, at 08:55 CEST on May 15, 2019.
About LIDDS AB (publ)
LIDDS AB (publ) is a Swedish-based pharmaceutical company with a unique drug delivery technology: NanoZolid®. NanoZolid® is clinically validated drug development technology and superior in its ability to provide a controlled and sustained release of active drug substances for up to six months. LIDDS has licensing agreements where NanoZolid® is combined with antiandrogens and in-house development projects in clinical and preclinical phase for cytostatics and immunoactive agents. LIDDS shares (LIDDS) are listed on Nasdaq First North. Redeye AB, Certifiedadviser@redeye.se, +46 (0)8 121 576 90, is a certified adviser to LIDDS. For more information, please visit www.liddspharma.com
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Source: LIDDS AB via Globenewswire