BioInvent: BioInvent's Rights Issue Oversubscribed
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Business Wire BioInvent
May 18, 2015 2:47 AM
LUND, Sweden--(BUSINESS WIRE)--
Regulatory News:
BioInvent (BINV.ST)
The rights issue in BioInvent of MSEK 77.7, with preferential rights for the company's shareholders, has been oversubscribed.The subscription period ended on 13 May 2015. Approx. 96 per cent of the shares offered have been subscribed for with subscription rights and 4.2 per cent of the shares offered have been allocated to persons who subscribed for shares without subscription rights. In total, notifications to subscribe for shares without subscriptions rights have been received corresponding to 30 per cent of the shares offered. Hence, the rights issue guarantee undertakings have not been made use of.
During the subscription period, members of BioInvent's management and key personnel have, in addition to existing holdings, purchased subscription rights and subscribed for new shares corresponding to a total of 2.8 per cent of the shares offered in the rights issue.
Allocation of shares that were subscribed for without subscription rights has been made in accordance with the principles outlined in the prospectus that has been prepared in connection with the rights issue and that was published on 24 April 2015. Notification regarding such allocation will shortly be sent to those who have been allocated shares.
Through the rights issue, BioInvent receives MSEK 77.7 before deduction of transaction costs. The share capital will increase by approx. MSEK 4.0 to approx. MSEK 13.0 and the number of shares will increase by50,128,911 to 162,918,961 shares when the new share issue has been registered with the Swedish Companies Registration Office. Trading in the new shares on Nasdaq Stockholm is expected to start week commencing 1 June, 2015.
Financial and legal advisors Asperia AB is acting as financial advisor, Avanza is issuing agent and Mannheimer Swartling Advokatbyrå AB as legal advisor to BioInvent in connection with the rights issue.
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To the editors:
About BioInvent
BioInvent International AB is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer.
The company has unique expertise in antibody drug development from initial concept to late clinical phase. The screening tool F.I.R.S.T.TM and the antibody library n-CoDeR® are two patented tools that enable identification of relevant human antibodies and disease targets during the discovery phase. BioInvent has also considerable experience in and a facility for process development and production of antibodies for clinical studies. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of new drugs, and provide BioInvent with the right to milestone payments and royalties on sales. These partners include Bayer Pharma, Daiichi Sankyo, Mitsubishi Tanabe Pharma, Servier, and Xoma. More information is available at www.bioinvent.com.
BioInvent International AB (publ)
Co. reg. No. 556537-7263
Visiting address: Sölvegatan 41
Mailing address: 223 70
LUND Phone: +46 (0)46 286 85 50
[email protected] www.bioinvent.com
Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in BioInvent. Any invitation to the persons concerned to subscribe for shares in BioInvent will only be made through the prospectus that BioInvent published on 24 April 2015.
This press release may not be published or distributed, directly or indirectly in or into the United States, Canada, Hong Kong, Japan, South Africa, Australia or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.
No subscription rights, BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.
This press release may contain forward-looking statements which reflect BioInvent's current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.
Information disclosed in this press release is provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 8.40 a.m. CET, on 18 May 2015.
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Contact:
BioInvent International AB
Michael Oredsson
President and CEO
+46 (0)46 286 85 67
+46 (0)707 16 89 30
[email protected]