Oasmia successfully completes private placement of SEK 70 million
October 24 2016 - 7:14AM
The private placement, which was announced on October 21, 2016, has
enabled Oasmia to place 8,750,000 new shares with professional and
qualified investors at a price of SEK 8.00 per share through an
accelerated book building procedure.
The Company intends to use the proceeds from the private
placement to strengthen the working capital as well as finance the
continued operations and further development of additional human
and veterinary products based on the XR17 technology.
In order to enable the private placement, the Board of Directors
of Oasmia has, pursuant to the authorization granted by the annual
general meeting held on September 26, 2016, resolved on a directed
issue of 8,750,000 new shares. The reason for deviating from the
shareholders' preferential rights by conducting a directed new
share issue is to broaden the shareholder base, and that the costs
and timing of the procedure collectively, and with sufficient
strength, indicate that it is in the Company's, and thus the
shareholders', interest that the issue is made with deviation from
the shareholders' preferential rights.
Through the issue, the number of shares in Oasmia increases by
8,750,000 from 107,209,310 to 115,959,310 and the share capital
increases by SEK 875,000 from SEK 10,720,931 to SEK 11,595,931. The
new issue results in an equity dilution of approximately 7.5
percent after the issue is completed.
The information above has been made public in accordance with
the Securities Market Act and/or the Financial Instruments Trading
Act.
Notes to editors:
About Oasmia Pharmaceutical AB Oasmia
Pharmaceutical AB develops, manufactures, markets and sells new
generations of drugs in the field of human and veterinary oncology.
The company's product development aims to create and manufacture
novel nanoparticle formulations and drug-delivery systems based on
well-established cytostatics which, in comparison with current
alternatives, show improved properties, reduced side-effects, and
expanded applications. The company's product development is based
on its proprietary in-house research and company patents. Oasmia is
listed on NASDAQ Capital Markets (OASM.US), Frankfurt Stock
Exchange (OMAX.GR, ISIN SE0000722365) and NASDAQ Stockholm
(OASM.ST).
IMPORTANT INFORMATION Issuance, publication or distribution of
this press release in certain jurisdictions could be subject to
restrictions. The recipient of this press release is responsible
for using this press release and the constituent information in
accordance with the rules and regulations prevailing in the
particular jurisdiction. This press release does not constitute an
offer or an offering to acquire or subscribe for any Oasmia
Pharmaceutical AB (publ) securities in any jurisdiction, neither
from Oasmia Pharmaceutical AB (publ), nor anyone else.
Julian
Aleksov Tel:
+46 18 50 54 40
E-mail:
julian.aleksov@oasmia.com
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