Active Biotech's rights issue over subscribed
April 16 2018 - 6:40AM
2018-04-16
NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, JAPAN OR CANADA OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OF THIS PRESS RELEASE WOULD
BE UNLAWFUL.
Active Biotech
AB's (publ) ("Active Biotech") rights issue with pre-emptive rights
for Active Biotech's shareholders has been over subscribed. Active
Biotech will thereby raise approximately SEK 48 million before
deduction of issue costs.
Following the end of the
subscription period, the results of Active Biotech's rights issue
show that 46,661,187 shares, corresponding to approximately 96
percent of the shares offered, were subscribed for with
subscription rights. In addition, applications to subscribe for
shares without subscription rights have been received,
corresponding to 14,649,060 shares and approximately 30 percent of
the rights issue. Accordingly, the issue guarantee has not been
utilized.
Allotment of new shares subscribed
for without subscription rights has been made according to the
principles outlined in the prospectus. Such subscribers who have
been allotted shares subscribed for without subscription rights are
notified separately. Shareholders with nominee-registered holdings
will receive confirmation of the allotment in accordance with the
procedure of the respective nominee. Only those who are allotted
shares will be notified.
Through the rights issue, Active
Biotech receives proceeds amounting to approximately SEK 48
million, before issue expenses. As a result of the rights issue
Active Biotech's share capital increases by approximately SEK
250,000 to approximately SEK 750,000 and the total number of shares
and votes increases by 48,412,160 to 145,236,480.
Trading in the new shares on
Nasdaq Stockholm is expected to commence by the end of April
2018.
For further information, please
contact:
Hans Kolam, CFO
Tel: +46 (0)46 19 20 44
E-mail: hans.kolam@activebiotech.com
Active Biotech
AB
P.O. Box 724, SE-220 07 Lund, Sweden
Phone +46 (0)46 19 20 00
Active Biotech AB
(publ) (NASDAQ Stockholm: ACTI) is a biotechnology company with
focus on neurodegenerative/inflammatory diseases and cancer.
Laquinimod, an orally administered small molecule with unique
immunomodulatory properties is in development for neurodegenerative
diseases in partnership with Teva Pharmaceutical Industries Ltd.
ANYARA, an immunotherapy, in development for cancer indications in
partnership with NeoTX Therapeutics Ltd. Furthermore, commercial
activities are conducted for the tasquinimod, paquinimod and SILC
projects. Please visit www.activebiotech.com for more
information.
IMPORTANT INFORMATION
This press release is not an offer to subscribe for shares in
Active Biotech and investors should not subscribe for or purchase
any securities, except on the basis of information provided in the
prospectus.
This
press release may not be made public, released or distributed,
directly or indirectly, in or into the United States, Australia,
Japan or Canada or in any other jurisdiction in which the
distribution of this press release would be unlawful. Further, this
press release does not constitute an offer to sell new shares, paid
subscribed for shares ("BTA") or subscription rights to any person
in any jurisdiction in which it is unlawful to make such offer to
such person or where such action would require additional
prospectuses, registration or other measures other than those
pursuant to Swedish law. The prospectus, application form and other
documents associated with the rights issue may not be distributed
in or to any country where such distribution or the rights issue
would require such measures set forth in the preceding sentence or
be in violation of the regulations of such country.
The new
shares, BTAs and subscription rights have not been recommended or
approved by any United States federal or state securities
commission or regulatory authority. No new shares, BTAs,
subscription rights or other securities issued by Active Biotech
have been or will be registered under the U.S. Securities Act of
1933, as amended, or under the securities legislation in any state
of the United States, and may not be offered, exercised or sold in
the United States absent registration or an applicable exemption
from registration requirements. There is no intention to register
any portion of the offering in the United States or to conduct a
public offering of securities in the United States.
The
Company has not authorized any offer of the securities referred to
herein to the public in any country in the European Economic Area
("EEA") other than Sweden. In other member states in the EEA, the
securities may only be offered to (i) any legal entity which is a
qualified investor as defined in the Directive 2003/71/EC (the
"Prospectus Directive"); or (ii) any person falling within Article
3(2) of the Prospectus Directive.
In the
United Kingdom, this communication is only being distributed to,
and is only directed at "qualified investors" (as defined in
section 86(7) of the Financial Services and Markets Act 2000) who
are (i) investment professionals falling within the meaning of
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); or (ii) persons
falling within Article 49(2)(a) to (d) ("high net worth companies,
etc.") of the Order (all such persons together being referred to as
"relevant persons"). In the United Kingdom, any investment or
investment activity to which this communication relates is
available only to, and will be engaged in only with, relevant
persons. Any person who is not a relevant person should not take
any action on the basis of this communication and should not act or
rely on it or any of its contents.
This
press release may contain forward-looking statements which reflect
Active Biotech's current view on future events and financial and
operational development. Words such as "intend", "will", "expect",
"anticipate", "may", "plan", "estimate" and other expressions that
imply indications or predictions of future development or trends,
constitute forward-looking statements. Forward-looking statements
inherently involve both known and unknown risks and uncertainties
as they depend on future events and circumstances. Forward-looking
statements do not guarantee future results or development and the
actual outcome could differ materially from the forward-looking
statements. The information, opinions and forward-looking
statements included in this press release speak only as of its date
and are subject to change without notice.
180416_Active Biotech's rights
issue over subscribed
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Active Biotech via Globenewswire
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