The Board of Directors of
Rights Issue
The Extraordinary General Meeting on
Those who on the record date,
The Rights Issue, which has already been secured in writing to 100 percent through pre-subscription commitments and underwriting agreements from the Company’s two largest shareholders,
The Rights Issue is expected to increase Initiator’s share capital by a maximum of
The last day of trading in Initiator’s shares including the right to receive subscription rights in the Rights Issue is
Complete terms and conditions of the Rights Issue as well as further information about the Company will be presented in the prospectus, which is expected to be published on the Company's website no later than in connection with the commencement of the subscription period.
Motive and use of proceeds
The Rights Issue will secure long-term financing until early 2024, allowing Initiator to advance all its clinical programs according to set plans and priorities. The proceeds will also support Initiator’s business strategy of identifying attractive but undervalued clinical-stage assets and advancing these through cost-efficient clinical trials to deliver key-value inflection points in indications with significant unmet medical needs in areas of expertise within the management team.
With the net proceeds from the Rights Issue, the Company has the opportunity to finance the following activities:
- Phase 1 MAD study as well as a bioavailability study of optimized drug product formulation for IP2015.
- Preparations for Phase 2 for IPTN2021 in neuropathic pain (Trigeminal neuralgia).
- Preparations for Phase 2b for IP2018 in psychogenic erectile dysfunction, including costs for drug product optimization.
- Operating expenses through H1 2024.
- Preparations for Phase 2b/3 for the option deal asset in the pain field pending the ongoing evaluation, including commercial evaluations and work-up of a regulatory and clinical development plan.
Pre-subscription- and underwriting commitments
Initiator has received pre-subscription- and underwriting commitments totalling approx.
Indicative timetable for the Rights Issue
- Last day of trading in shares, including the right to receive subscription rights:
8 June 2022 . - First day of trading excluding the right to subscription rights:
9 June 2022 . - Record date for participation in the Rights Issue:
10 June 2022 . - Subscription period:
16-30 June 2022 . - Trading in subscription rights:
16-27 June 2022 . - Trading in BTA:
16 June 2022 until the Rights Issue has been registered withErhvervsstyrelsen , expected around18 July 2022 . - Announcement of the outcome in the Rights Issue: around the
7 July 2022 .
Prospectus, teaser and subscription form
Prospectus, teaser and subscription form regarding the rights issue will be made available via the Company’s (www.initiatorpharma.com), Sedermera Corporate Finance AB’s (www.sedermera.se) and Nordic Issuing AB’s (www.nordic-issuing.se) website by the time of the commencement of the subscription period, at the latest.
Advisors
In connection with the rights issue,
For more information about the rights issue, please contact
Phone: +46 40 615 14 10
E-mail: cf@sedermera.se
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