Background and motive
The proceeds will secure long-term financing of
CEO
”I am excited by the continued support and confidence in
Karl Tobieson, CEO
“We are excited to continue our support to the Initiator team as a long-term investor. The team has convinced us about its true expertise in clinical development, and the company is on the trajectory to deliver multiple clinical data points in the next 18 months. Furthermore, the company has a long-term vision by having an opportunistic eye for new valuable clinical-stage assets. With the support from Linc Initiator now has the financial stability to focus and dedicate its resources on the ongoing studies and business development activities” says Karl Tobieson, CEO
The proposed directed issue of shares
The proposed directed issue of shares, amounting to approximately
Party | Number of shares | Amount (SEK) | |
1,333,333 | 9,999,997.50 | ||
1,333,333 | 9,999,997.50 | ||
Total | 2,666,666 | 19,999,995.oo |
The reason for the deviation from the shareholders' pre-emptive subscription rights is to seek to secure the financing in a time- and cost-efficient manner. By completing a directed issue, and at the same time securing a fully guaranteed subsequent rights issue, as out lined below, it is the assessment of the board of directors, that the subscription price accurately reflects current market conditions and demands and that the combined transactions are in the collective interest of all shareholders and the Company.
Provided that the EGM approves the Board of Directors’ decision, the directed issue of shares will bring an increase in the number of shares in the Company by 2,666,666 shares, from 43,772,462 share to 46,439,128 shares. The share capital will increase by
The proposed rights issue in brief
Provided that the EGM decides to approve an authorisation for the Board of Directors to carry out a rights issue, the rights issue will consist of a maximum of 5,463,426 new shares. The rights issue, which is secured in writing to 100 percent through pre-subscription commitment agreements and guarantee agreements, will provide the Company with approximately
Founders and management, representing approximately 10 percent of shares, have declared that they will vote for the suggested financing at the EGM.
The proposed subscription price in the preferential rights issue is
The suggested terms in the rights issue, include that
The record date for participation in the preferential rights issue, as well as trading dates and the dates for the subscription period and other important dates will be communicated as soon as the Company has a more detailed overview of when the subscription period can take place.
For further information about
Phone: +45 6126 0035
E-mail: ceo@initiatorpharma.com
For further information regarding the capitalization, please contact:
Sedermera Corporate Finance AB
Phone: +46 40 - 615 14 10
E-mail: cf@sedermera.se
www.sedermera.se
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