Date: 2013-05-24
Type of information: Private placement
Company: Pledpharma (Sweden)
Investors:
Amount: 18.6 million SEK (€2.1 million)
Funding type: share issue
Planned used: The share issue is done to achieve greater flexibility and time to perform the best possible out-licensing deal of PledPharma\'s drug candidate PledOx®.
Others: * On May 24, 2013, Pledpharma has announced that the rights issue was oversubscribed by 38 percent. The company has received SEK 18.6 million before issue costs. PledPharma has also announced that IMS Consulting Group is appointed as adviser for the out-licensing of PledOx, which starts in 2013. The rights issue will increase the number of shares by 1.687.314 to a total of 21.935.089 shares and the share capital will increase by SEK 88.806 to SEK 1.154.478.
* On April 3, 2013, PledPharma has announced that the company proposes a rights issue of shares that can provide with up to 18.6 million SEK (€2.1 million). The proposal will be tabled at an EGM to be held in conjunction with the AGM on April 18. The share issue is done to achieve greater flexibility and time to perform the best possible out-licensing deal of PledPharma\'s drug candidate PledOx®. Additional financial resources will be used to expand the PLIANT study with more study centers worldwide to ensure the recruitment rate. This study evaluates PledOx’s ability to prevent the serious side-effects that are induced as a result of colorectal cancer chemotherapy. The reason for the need of additional funds is a delay in the recruitment of patients in part 1, the dose-escalation phase of the PLIANT study. Part 2 of the study, the European and US multicenter randomized part immediately following part 1, is expected to start in mid-2013.
Subscription commitments of at least respective owners pro rata share are provided from Staffan Persson, Peter Lindell, Carl Rosvall and Anders Ström and all of the company\'s board of directors and management. The subscription commitments represent more than 50% of the issue. No compensation for subscription commitment has been issued. Subscription commitments are not secured by advance payment or other security. The remainder of the issue is not guaranteed or otherwise secured.
The right to subscribe for one (1) new share for every twelve (12) existing shares, resulting in 1,687,314 of new shares upon full subscription (equivalent to a dilution of approximately 8%).
• Price per share 11 SEK (~ 19% discount to the closing price on April 3, 2013)
• Record date for participation in the share issue, April 29, 2013
• Subscription period, 6 May to 20 May 2013
• Trading in subscription rights, 6 May to 15 May 2013
• First day of trading of the new shares is expected the first week of June.
Therapeutic area: Cancer - Oncology
