Date: 2012-04-04
Type of information: Private placement
Company: BioInvent International (Sweden)
Investors:
Amount: SEK 104,8 million (€11.9 million)
Funding type: private placement
Planned used: The purpose of the rights issue is to strengthen BioInvent\'s financial position and thereby enable the fulfillment of the company\'s commercial strategy.
Others: * On April 4, 2012, BioInvent International has announced that its preferential rights issue has been oversubscribed. The subscription period in the rights issue was concluded on 30 March 2012. The new shares will bring BioInvent SEK 104.8 million (€11.9 million) before transaction costs.
The final result of the rights issue show that 6,209,737 shares, representing 92.4 per cent of the offered shares were subscribed for by the exercise of subscription rights. Additionally, subscription forms concerning 1,531,125 shares, representing 22.8 per cent of the offered shares have been received for subscription without preferential right. The subscription price was SEK 15.60 and BioInvent\'s shareholders had the right to subscribe for one new share for every ten existing shares.
Those who have subscribed for shares without preferential right will be allotted shares according to the principles outlined in the prospectus, which was published on 13 March 2012. Notifications regarding allotment are expected to be distributed on or around 10 April 2012. Only those who are allotted shares will be notified.
New shares subscribed for by the exercise of subscription rights are expected to start trading on NASDAQ OMX Stockholm on 12 April 2012. Trading in shares subscribed without preferential right is expected to start on 26 April 2012. As a consequence of the preferential rights issue BioInvent will increase its share capital by SEK 3,360,262.50 to SEK 36,962,891. The number of shares will increase by 6,720,525 to 73,925,782 shares. Mannheimer Swartling served as legal advisor to BioInvent and Redeye arranged for a group of investors guaranteeing the rights issue.
* On February 14, 2012, the Board of Directors of BioInvent International AB has resolved, subject to the approval by the General Meeting, to conduct a new share issue with preferential rights for the shareholders of the company. Ten existing shares in BioInvent entitle to subscription for one new share. The subscription price is SEK 15.60 per share, corresponding to total issue proceeds of a maximum of approx. SEK 104,8 million, before transaction costs. The subscription period will be from 16 March up to and including 30 March 2012. The Board of Directors has simultaneously resolved to convene an Extraordinary General Meeting to be held on 9 March 2012 for the approval of the rights issue. There are soft commitments, subscription undertakings and underwriting guarantees corresponding to 100 percent of the rights issue.
Therapeutic area: Cancer - Oncology
