NeuroVive insiders and employees intend to subscribe for a minimum of 5.4 million SEK
NeuroVive Pharmaceutical AB (publ) announces that board members, other insiders and employees intend to subscribe for a minimum of 129 000 units, equivalent to at least SEK 5.4 million, in the company's preferential rights issue with the subscription period between 18 April and 2 May.
This announcement follows a press release published on April 18th and provides additional information on the company's board members, other insiders and employees intention to subscribe. This information includes the previous announcement related to the major shareholder Fredrik Olsson’s (Baulos Capital Belgium SA) intention to subscribe for at least 75 000 units, equivalent to SEK 3.15 million.
The new share issue in brief:
- Shareholders in NeuroVive have a preferential right to subscribe for 1 unit, consisting of 8 new shares and one (1) warrant of series 2016/2017:1 issued without consideration and one warrant of series 2016/2017:2 issued without consideration, for every 14 existing shares held on the record date of 8 April, 2016.
- The subscription price is SEK 42 per unit, equivalent to SEK 5.25 per share.
- At full subscription in the New Issue, NeuroVive will raise approximately SEK 94.4 million before issue costs.
- At full subscription of the warrants, the Company will raise an additional SEK 32.6 million.
- The subscription period runs between 18 April and 2 May 2016.
- The issue is guaranteed to 75 percent through guarantee commitments.
More information about NeuroVive’s share issue can be found at www.investerarbrevet.se/neurovive (in Swedish).
NeuroVive Pharmaceutical AB (publ) is a pioneer in mitochondrial medicine and a company committed to the discovery and development of highly targeted candidates that preserve mitochondrial integrity and function in areas of significant therapeutic need. NeuroVive’s business approach is driven by value-adding partnerships with mitochondrial research institutions and commercial partners across the globe. NeuroVive’s portfolio consists of two clinical projects in acute kidney injury (AKI) and traumatic brain injury (TBI) with candidates in clinical and preclinical development and two drug discovery platforms. The NeuroSTAT® product has orphan drug status in Europe and in the US for treatment of moderate to severe traumatic brain injury and is currently being evaluated in a study, CHIC. Ciclosporin (CicloMulsion®) is being evaluated in an on-going study, CiPRICS, in acute kidney injury during major surgery. NeuroVive’s shares are listed on Nasdaq, Stockholm, Sweden.
For investor relations and media questions, please contact:
Christine Tadgell, NeuroVive, Tel: +46 (0)46 275 62 21 or firstname.lastname@example.org
NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard), Fax: +46 (0)46 888 83 48
NeuroVive Pharmaceutical AB (publ) is required to publish the information in this news release under The Swedish Securities Market Act. The information was submitted for publication on the 26 April 2016, at 12.30 CET.
NeuroVive Pharmaceutical AB (publ) - the mitochondrial medicine company. The company is listed on NASDAQ OMX Stockholm, Small Cap, under the ticker symbol NVP. The share is also traded on the OTC market in the US. NeuroVive Pharmaceutical (OTC: NEVPF) trades on the OTC Pink Market. Investors can find Real-Time quotes and market information for the company at www.otcmarkets.com/stock/NEVPF/quote