Date: 2013-07-02
Type of information: Private placement
Company: Moberg Pharma (Sweden)
Investors: Bure Equity (Sweden)
Amount: SEK 36 million
Funding type: new share issue
Planned used: The directed issue of approximately SEK 36 million to the Swedish institutional investor Bure provides financing for the next step in Moberg Pharma’s growth strategy – acquisitions and licensing of products as well as pipeline assets, with a primary focus on products for Moberg Pharma´s own sales channels in the North American market.
Others: * On July 2, 2013, Moberg Pharma has resolved to issue new shares with deviation from the shareholders’ preferential rights to Bure Equity AB. The purpose of the financing is to facilitate forthcoming additions to the Company´s product portfolio. Successful launches of NaloxÔ/Kerasal NailÔ in Europe and the US, growing sales and a positive cash flow have resulted in a strengthened position for Moberg Pharma. The company is now approaching the next step in its growth strategy – to expand its product portfolio for marketing primarily through its own OTC sales channels in North America. The directed issue to the Swedish institutional investor Bure brings approximately SEK 36 million, aimed at facilitating acquisitions and licensing of marketed products, as well as pipeline assets.
The directed share issue is priced at current market price and means that 1,081,000 new shares will be issued in the Company, and that the Company\'s share capital will increase by SEK 108,100, resulting in a dilution of approximately 9.1 percent of the capital and votes in the Company. After the share issue, Bure will be the third largest shareholder in Moberg Pharma.
The new issue of 1,081,000 shares has been decided upon July 1, 2013, pursuant to the authorization received by the Board at the Annual General Meeting on April 23, 2013. The issue will be priced at SEK 33.54 per share, which corresponds to the volume-weighted average price of the Moberg Pharma share during the past 30 trading days before the announcement. Closing price of the Moberg Pharma share on Monday July 1, 2013 was SEK 32.30.
Therapeutic area: Dermatological diseases
