STOCKHOLM, Jan. 29, 2021 /PRNewswire/ -- On November 16, 2020, OncoZenge AB (publ), Moberg
Pharma's subsidiary, announced that the company had secured
financing of a total of approximately SEK 70
million ahead of the spin-off and separate listing on Nasdaq
First North Growth Market. Today, the Board of Moberg Pharma has
decided that the record date for the right to receive shares in
OncoZenge shall be February 5, 2021.
The Board of OncoZenge has today, with the support of an
authorization from an Extraordinary General Meeting on January 21, 2021, decided on the terms for the
rights issue of approximately SEK 60
million (the "Rights Issue"). In addition, an indicative
timetable for both the Rights Issue and the listing process on
Nasdaq First North Growth Market is announced, where the first day
of trading is expected to be on February 12,
2021.
Terms for the Lex Asea distribution
The Board of Directors of Moberg Pharma has decided that the
record date for the right to receive shares in OncoZenge shall be
February 5, 2021. Ten (10) ordinary
shares in Moberg Pharma, as of the record date for the
distribution, entitle to one (1) share in OncoZenge. If the
shareholding is not evenly divisible by ten, fractions of a share
will be obtained. All such fractions will be combined into whole
shares and thereafter sold through the agency of Erik Penser Bank.
The sales proceeds are paid out in cash via Euroclear, without
deduction for brokerage fees.
In order to adjust the number of outstanding shares prior to the
Lex Asea distribution, OncoZenge has completed a division of shares
where each share has been divided into nine shares of the same
class of shares as before, a so-called share split 9:1. The number
of shares in OncoZenge after the completed share split amounted to
5,400,000. In addition, OncoZenge has carried out an equalizing
share issue of a total of 456,622 shares to adjust the number of
shares to be distributed to Moberg Pharma's shareholders, which
will amount to a total of 4,404,667 shares. The total number of
shares in OncoZenge after the share split and equalizing share
issue amounts to 5,856,622 shares.
Listing on Nasdaq First North Growth Market
In December 2020, The Board of
Directors of OncoZenge applied for admission to trading on Nasdaq
First North Growth Market. The first day of trading on Nasdaq First
North Growth Market is scheduled for February 12, 2021, subject to Nasdaq's
approval.
Terms for the Rights Issue
The Board of Directors of OncoZenge has today, with the support
of the authorization from the Extraordinary General Meeting on
January 21, 2021, decided on the
final terms of the Rights Issue. The right to subscribe for shares
with preferential rights shall vest in those who are registered as
shareholders in OncoZenge on the record date for the Rights Issue,
whereby one (1) existing share held in OncoZenge entitles to one
(1) subscription right and one (1) subscription right entitles to
subscription of one (1) new share. The subscription price amounts
to SEK 10.25 per share, which entails
that OncoZenge will receive approximately SEK 60 million before issue costs from the Rights
Issue.
The record date for the right to participate in the Rights Issue
is February 17, 2021. Subscription
shall take place during the period from and including February 19, 2021 up to and including
March 5, 2021. Last day for trading
in OncoZenge's share including the right to participate in the
Rights Issue is February 15, 2021.
Subscription rights are traded on Nasdaq First North Growth Market
during the period from and including February 19, 2021, up to and including
March 2, 2021. Subscription rights
that are not exercised during the subscription period will become
invalid and lose their value.
If not all shares are subscribed for with support of
subscription rights, the remaining shares, within the framework of
the maximum amount of the Rights Issue, shall be allotted: firstly,
to those who have subscribed for shares with support of
subscription rights (regardless of whether they were shareholders
on the record date or not) and who have applied for subscription of
shares without support of subscription rights and in the event that
allotment to these cannot be made in full, the allotment shall be
made pro rata in relation to the number of subscription rights that
each of those who has applied for subscription of shares without
support of subscription rights has exercised to subscribe for
shares; secondly, to others who have only applied for subscription
of shares without support of subscription rights and in the event
that allotment to these cannot be made in full, allotment shall be
made pro rata in relation to the total number of shares that the
subscriber has applied for subscription of; and thirdly to those
who have undertaken to guarantee subscription of shares in the
Rights Issue, in proportion to such guarantee undertakings. To the
extent that allotment at any stage according to the above cannot be
made pro rata, allotment shall be made by drawing lots.
Subscription and guarantee commitments
In connection with the Rights Issue, existing shareholders in
OncoZenge, including Östersjöstiftelsen, Linc AB and John
Fällström, have entered into subscription and guarantee commitments
totalling approximately SEK 60
million, which entails that the Rights Issue is fully
secured. In addition, all members of the Board and management
intend to participate in the Rights Issue.
Prospectus
Complete terms and conditions for the Rights Issue as well as
other information about OncoZenge and the listing on Nasdaq First
North Growth Market will be stated in the prospectus that is
expected to be published on February
8th, 2021.
Change in share capital and number of shares and dilution
The Rights Issue entails, if fully subscribed, that the share
capital will increase by approximately SEK
650,736.18 from approximately SEK
650,736.18 to approximately SEK
1,301,472.37 and the number of shares by 5,856,622 shares
from 5,856,622 shares to 11,713,244 shares. The dilution for
existing shareholders who do not participate in the Rights Issue
will thus amount to 50 percent.
Timetable for Lex Asea, the Rights Issue and the listing on
Nasdaq First North Growth Market
The timetable is indicative until Nasdaq's conditional approval
has been obtained, which is expected to take place no later than
February 8, 2021.
February 3,
2021
Last trading day in Moberg Pharma with the right to receive shares
in OncoZenge
February 4,
2021
First trading day in Moberg Pharma without the right to receive
shares in OncoZenge
February 5,
2021
Record date for the Lex Asea distribution of OncoZenge shares
February 8,
2021
Estimated date for publication of prospectus
February 12,
2021
First day of trading on Nasdaq First North Growth Market
February 15,
2021
Last trading day in OncoZenge with the right to receive
subscription rights
February 16,
2021
First trading day in OncoZenge without the right to receive
subscription rights
February 17,
2021
Record date for participation in the Rights Issue
February 19 - March 5,
2021 Subscription
period
February 19 - March 2,
2021 Trading in
subscription rights
March 9,
2021
Estimated date for publication of the outcome of the Rights
Issue
Advisors
Erik Penser Bank AB is the financial advisor and Gernandt &
Danielsson Advokatbyrå AB is the legal advisor in connection with
the distribution of shares, financing and listing of OncoZenge.
About oral mucositis and BupiZenge®
Globally, around 5 million people suffer from Oral mucositis
("OM") after cancer treatment. OM is an inflammation of the mucous
membranes in the mouth and throat, which results in painful ulcers.
OM is considered the most debilitating side effect of radiation
therapy and chemotherapy and commonly occurs. After radiation
therapy in the head and neck region, 90 percent of patients develop
OM, and of the patients who are treated with chemotherapy around 30
percent are affected. OM causes severe pain, difficulty to swallow
and talk, and can lead to interruptions in cancer treatment as well
as increased health care costs.
The technology behind BupiZenge® includes a lozenge
with bupivacaine, a long-acting local anesthetic that is currently
only available in injectable form for other indications. In a
previous phase 2 study in cancer patients, BupiZenge®
has demonstrated statistically significant pain relief in the oral
cavity and throat, the pain level in the mouth was reduced by 50
percent compared to the current treatment. The next step for
BupiZenge® is a pivotal clinical phase 3 study for the
European market and additional markets. A phase 3 study is expected
to be initiated during the beginning of 2022 and the objective is
top-line results in 2023.
CONTACT:
For additional information, please contact:
Anna Ljung, CEO Moberg Pharma, telephone: +46 707 66 60 30,
e-mail: anna.ljung@mobergpharma.se
Pirkko Tamsen, CEO OncoZenge,
telephone: +46 760 09 84 99, e-mail: pirkko.tamsen@oncozenge.se
About this information
The information was submitted for publication, through the
agency of the contact persons set out above, at 1.00 p.m. CET on January
29, 2021.
This information was brought to you by Cision
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Announcement of terms
for the fully guaranteed rights issue in OncoZenge, timetable for
the listing and record date for Lex Asea
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SOURCE Moberg Pharma