THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN MEDIVIR AB (PUBL). SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW.

The final result of Medivir AB's (publ) ("Medivir" or the "Company") rights issue of approximately SEK 170 million (the "Rights Issue") shows that it was oversubscribed by 93.5 per cent. As a result of this, the board of directors has resolved to exercise the Over-allotment option, that was communicated in connection with the Rights Issue, of SEK 25 million (the "Over-allotment Option"), meaning that the Company will receive total proceeds of approximately SEK 195 million before transaction costs. The company will strengthen its institutional shareholder base through the specialist investor Healthinvest Partners AB's ("Healthinvest") participation in the Over-allotment Option.

The final result of the rights issue in Medivir shows that 22,824,747 series B shares, corresponding to approximately 94 per cent of the offered series B shares, have been subscribed for by the exercise of subscription rights. In addition, 24,154,999 series B shares have been subscribed for without subscription rights, corresponding to 99.5 per cent of the offered series B shares. 1,451,658 series B shares of the shares subscribed for without subscription rights have been allotted to subscribers in accordance with the principles set out in the prospectus that was published 18 January 2021.

The Rights Issue was thereby oversubscribed with 93.5 per cent and, as a result, the board of directors has resolved to exercise the full Over-allotment Option of approximately SEK 25 million, corresponding to 3,571,428 series B shares, directed to the specialist investor Healthinvest. Through the Rights Issue and the Over-allotment Option, Medivir will receive approximately SEK 195 million before transaction costs.

Through the Rights Issue and the Over-allotment Option, the number of shares in Medivir increases from 24,287,818 series B shares to 52,135,651 series B shares by the new issue of 27,847,833 series B shares.

The final day for trading in paid subscribed shares (BTA) is expected to be 15 February 2021. The new series B shares from the Rights Issue are expected to be admitted for trade on Nasdaq Stockholm as of 17 February 2021 and the new series B shares from the Over-allotment Option as of 18 February 2021.

Advisors
ABG Sundal Collier is the financial advisor and Vinge is the legal advisor in connection with the transaction.

For additional information, please contact
Yilmaz Mahshid, CEO
Telefon: +46 8 5468 3100
E-mail: yilmaz.mahshid@medivir.com

Magnus Christensen, CFO
Telefon: +46 8 5468 3100
E-mail: magnus.christensen@medivir.com

The information was submitted for publication on 9 February 2021 at 17:30 CET through the agency of the contact persons set out above.
 

Medivir in brief
Medivir develops innovative drugs with a focus on cancer where the unmet medical needs are high. The drug candidates are directed toward indication areas where available therapies are limited or missing and there are great opportunities to offer significant improvements to patients. Medivir is focusing on the development of MIV-818, a pro-drug designed to selectively treat liver cancer cells and to minimize side effects.  
Collaborations and partnerships are important parts of Medivir's business model, and the drug development is conducted either by Medivir or in partnership. Birinapant, a SMAC mimetic, is exclusively outlicensed to IGM Biosciences (Nasdaq: IGMS) to be developed in combination with IGM-antibodies for the treatment of solid tumors. Medivir's share (ticker: MVIR) is listed on Nasdaq Stockholm's Small Cap list. www.medivir.com.

Important information 
Publication, release, or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where the press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Medivir in any jurisdiction, either from Medivir or from anyone else. 

This press release is not a prospectus according to the definition in Regulation (EU) 2017/2019 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus has been prepared by the Company and approved by the Swedish Financial Supervisory Authority.

This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.

Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Nasdaq Stockholm's rules for issuers.

 

Potential investors should not put undue trust in the forward-looking statements herein, and potential investors are strongly recommended to read the sections in the prospectus that includes a more detailed description of the factors that can affect the Company's business and its associated market.

 

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