Date: 2018-01-02
Type of information: Loan
Company: Osmia Pharmaceutical (Sweden)
Investors: Arwidsro Investment (Sweden)
Amount: 108 million SEK
Funding type: loan
Planned used:
Others:
- • On January 2, 2018, Oasmia Pharmaceutical has agreed to a loan totalling 108 million SEK, of which 75 million SEK will come from Oasmia's main shareholder Arwidsro Investment AB. The loan will be given to the Company no later than May 15, 2018 and is due for repayment May 15, 2019. The intention with the loan is to replace the Company’s current loan from Nexttobe. In connection with this transaction has Alceco International S.A. sold 2 million shares to Mr Per Arwidsson, who becomes the largest shareholder of Oasmia.
- Granting of the loan assumes certain conventional conditions will be fulfilled, including that Oasmia at that point in time has sufficient funds to maintain the operation for the coming 12-month period (without considering the loan from Arwidsro and the other lender MGC Capital) and also that there is no reason to believe Oasmia will not fulfil the other terms in the loan agreement.
- The annual interest for the loan is set to 8 %. In addition, Arwidsro receives 24,193,548 warrants while MGC Capital receives 10,645,161 warrants. The warrants allow issuance of new shares in Oasmia at 3.10 SEK per share until August 15, 2019 and are due to be issued no later than January 31, 2018. If for any reason the loan is not issued and the conditions are not fulfilled, the lenders will return most of the warrants to Oasmia. These warrants will then be voided. A small portion, approximately 4% of the warrants, will be kept by the lenders as compensation for the commitment.
Therapeutic area: Cancer - Oncology
Is general: Yes
