Alligator Bioscience publishes prospectus in connection with forthcoming rights issue
March 15, 2024 at 06:01 am EDT
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The Board of Directors of Alligator Bioscience AB (publ) (“Alligator” or the “Company”) has prepared a prospectus (the “Prospectus”) in connection with the rights issue of units of approximately SEK 150.9 million which was resolved by the Board of Directors on February 8, 2024, and approved by the Extraordinary General Meeting held on March 14, 2024 (the “Rights Issue”). The Prospectus has today been approved and registered by the Swedish Financial Supervisory Authority.
Summary
The Rights Issue comprises a maximum of 140,990,205 units where each unit consists of one (1) ordinary share and one (1) warrant series TO 9 free of charge.
One (1) existing ordinary share in the Company on the record date entitles to three (3) unit rights. Fourteen (14) unit rights entitle to subscription of one (1) unit.
One (1) warrant series TO 9 will entitle the holder to subscribe for one (1) new ordinary share in the Company.
The subscription price is SEK 1.07 per unit, corresponding to SEK 1.07 per ordinary share, which, assuming that the Rights Issue is fully subscribed, results in the Company initially receiving proceeds of approximately SEK 150.9 million before issue costs.
If the Rights Issue is oversubscribed, the Board of Directors of the Company may carry out an over-allotment issue of a maximum of 93,457,944 units, corresponding to initially approximately SEK 100.0 million before issue costs, directed to investors who have subscribed for units in the Rights Issue without receiving full allotment (the “Over-Allotment Issue”). The subscription price in the Over-Allotment Issue will be the same as in the Rights Issue.
Major shareholders have expressed their support for the Rights Issue through subscription undertakings amounting to approximately SEK 59.8 million, corresponding to approximately 40 percent of the Rights Issue.
Complete terms and conditions for the Rights Issue and the Over-Allotment Issue are available in the Prospectus published by the Company on its website, www.alligatorbioscience.se/en.
The Prospectus The Prospectus has been prepared in connection with the forthcoming Rights Issue and has today, on March 15, 2024, been approved and registered by the Swedish Financial Supervisory Authority. The Prospectus, containing complete terms and conditions, is available on the Company's and Vator Securities AB's respective websites (www.alligatorbioscience.se/en, www.vatorsecurities.se). The Prospectus will also be available on the Swedish Financial Supervisory Authority's website (www.fi.se). Subscription forms will be available on the Company's and Vator Securities AB’s respective websites.
Timetable for the Rights Issue
March 15, 2024
Publication of the Prospectus
March 15, 2024
Last day of trading incl. preferential rights
March 18, 2024
First day of trading excl. preferential rights
March 19, 2024
Record date in the Rights Issue
March 21, 2024 – April 2, 2024
Trading in unit rights
March 21, 2024 – April 5, 2024
Subscription period
March 21, 2024 – April 25, 2024
Trading in paid subscribed units (“BTU”)
Around April 9, 2024
Estimated publication of outcome in the Rights Issue and potential exercise of the Over-Allotment Issue
Advisers Vator Securities AB acts as Sole Global Coordinator and bookrunner in connection with the Rights Issue and Van Lanschot Kempen N.V. acts as financial adviser to Alligator in connection with the Rights Issue. Setterwalls Advokatbyrå AB is legal adviser to Alligator in connection with the Rights Issue. Vator Securities AB acts as the issuing agent in connection with the Rights Issue.
Alligator Bioscience AB is a Sweden-based biotechnology Company that develops antibody-based drugs for cancer treatment. The Company specializes in the development of tumor-targeted immunotherapies, in particular agonist mono- and bispecific antibodies, and is active in the early stages of drug development, from concept to phase II clinical trials. Alligatorâs pipeline includes the two key assets mitazalimab, a CD40 agonist, and ATOR-1017, a 4-1BB agonist. Furthermore, Alligator is co-developing ALG.APV-527 with Aptevo Therapeutics Inc., several undisclosed molecules based on its technology platform, Neo-X-Prime, with MacroGenics Inc. and drug candidates based on the RUBY bispecific platform with Orion Corporation. Its licensed programs include AC101, in phase II development, by Shanghai Henlius Biotech Inc. and an undisclosed target to Biotheus Inc. The Company operates domestically.