Date: 2015-02-20
Type of information: Private placement
Company: Neurovive Pharmaceutical (Sweden)
Investors:
Amount: SEK 65 million (€ 6.8 million)
Funding type: private placement
Planned used: The proceeds from the directed share issue strengthens NeuroVive’s working capital and enables value-creating investments, including preparations for the upcoming commercialization of CicloMulsion® in Europe as well as continued development of NeuroSTAT® and other product candidates.
Others: * On February 20, 2015, NeuroVive Pharmaceutical announced that the Company has completed a directed share issue of 1.3 million new shares, which brings SEK 65 million to the Company before transaction costs. The new share issue, which was approved by the board of the Company on 19 February 2015 with authorization from the Annual General Meeting on 9 May 2014, includes 1,300,000 new shares and has been directed to a limited group of Swedish and international institutional qualified investors at a price of SEK 50 per share through a private placement procedure. The subscription price has been set through a customary bookbuilding process. The subscription price entails a discount of approximately 14.4 percent in relation to the average closing price for the last 30 trading days. The new share issue in NeuroVive increases the number of shares by 1,300,000 shares from 27,788,093 shares to 29,088,093 shares in total and increases the share capital by SEK 65,000.00 from SEK 1,389,404.65 to SEK 1,454,404.65 in total. The new share issue entails a dilution of approximately 4.5 percent. Baulos Capital Belgium SA, one of the largest shareholders of the Company, has in connection with the new issue lent 1,300,000 shares in NeuroVive to ABG Sundal Collier to enable delivery of subscribed shares to investors. These shares will be returned to the lender after registration of the share issue with the Swedish Companies Registration Office (Sw. Bolagsverket). ABG Sundal Collier acted as Joint Lead Manager and Sole Bookrunner, HDR Partners acted as Joint Lead Manager, and Advokatfirman Lindahl acted as legal advisor to NeuroVive in connection with the new share issue.
Therapeutic area: Cardiovascular diseases
