Bluefish announces new share issue of approximately SEK 50 million

"Securing liquidity and improving the equity ratio”

The board of directors for Bluefish Pharmaceuticals AB (Bluefish or the Company) has resolved to, conditional on the subsequent approval by the shareholders at the annual general meeting on 27 May 2014, carry through a new issue of shares, subject to pre-emption rights for existing shareholders.

The Company’s share capital shall be increased by not more than SEK 2,837,699.80 through the issuance of not more than 14,188,499 Class B shares. Shareholders shall be entitled to subscribe for one new Class B share in respect of every five shares held in the Company, irrespective of class of share. The record date for the right to participate in the new issue shall be 7 May 2014. Subscription shall take place during the period commencing 12 May 2014 up to and including 30 May 2014, and payment must take place within three business days of notification of allotment. The board of directors shall be entitled to extend the subscription period and the time for payment. Five kronor (SEK 5) shall be paid for each subscribed and allotted share.

Bluefish‘s two largest shareholders, Färna Invest AB and Nexttobe AB, have undertaken to subscribe for their respective portions in the new issue equivalent to an amount of SEK 50 million. In addition, the Company has entered into underwriting agreements with Färna Invest AB and Nexttobe AB such that, through the aforementioned subscription undertakings and underwriting commitments, the issue is guaranteed up to an amount of SEK 50 million. Compensation totalling approximately SEK 1.5 million will be paid in respect of the portion which relates to the underwriting commitments.

The new share issue is implemented to secure the liquidity and strengthen the capital structure. This allows continued strategic development and growth of the business.

 

For more information, contact

Karl Karlsson, President & CEO Bluefish Pharmaceuticals
Tel. 46 8 519 116 00
Email: karl.karlsson@bluefishpharma.com

Susanna Urdmark, CFO Bluefish Pharmaceuticals
Tel. 46 8 519 116 00
Email: susanna.urdmark@bluefishpharma.com

 

About Bluefish Pharmaceuticals
Bluefish has undergone significant international expansion since the company was founded in 2005. Bluefish focuses on the development, manufacture and sale of generic pharmaceuticals. The company conducts marketing operations in a large number of European markets and is expanding into territories outside Europe. The product portfolio consists of a total of 80 products and is growing.

www.bluefishpharma.com

About Us

Bluefish has undergone significant international expansion since the company was founded in 2005. Bluefish focuses on the development, manufacture and sale of generic pharmaceuticals. The company conducts marketing operations in a large number of European markets and is expanding into territories outside Europe. The product portfolio consists of a total of 80 products and is growing. The company is owned by its founder Karl Karlsson, together with a number of investment funds and private investors.

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