Sandberg Development has sold 1.3 million shares in Camurus
11 June 2024
THIS PRESS RELEASE IS NOT AND DOES NOT FORM A PART OF ANY OFFER FOR SALE OF SECURITIES. NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, JAPAN, CANADA, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Sandberg Development AB (“Sandberg Development”) has today, 11 June 2024, sold 1,345,000 shares in Camurus AB (“Camurus”), at a price of SEK 550 per share, to certain Swedish and international institutional investors (the “Share Sale”). Following the Share Sale, Sandberg Development owns 20,530,692 shares in Camurus, corresponding to 35.4 percent of the capital and votes in the company, and thereby remains the largest shareholder in Camurus. In connection with the Share Sale, Sandberg Development has agreed to a lock-up with respect to its remaining shares in Camurus. The lock-up period begins on 11 June 2024 and ends on the date of the publication of Camurus’ interim report for the period January – September 2024. The lock-up undertaking is subject to customary exceptions.
Sandberg Development was involved in the foundation of the biopharmaceutical company Camurus in 1991 when a group of scientists together with the entrepreneur Gunnar Sandberg, identified the opportunity to utilise lipid structures to improve the injection of active drug substances into the body. Since then, Sandberg Development has remained a committed and long-term owner of the company. Today, Camurus has grown to become a leading international biotechnology company, developing and commercialising innovative and long-acting medicines for treating severe and chronic diseases. Camurus was listed on Nasdaq Stockholm in 2015.
“Our commitment to Camurus stretches back all the way to the company’s founding. From its inception to the present day, Camurus has undergone strong growth and expansion to become a leading global biotechnology company. Through this Share Sale, we have strengthened the shareholder base of existing investors while also widening it to include new, high-quality owners to support the company in its future development. Their interest and investment in Camurus are a testament to the company’s strength, potential, and prospects ahead. Sandberg Development’s role as the largest shareholder in Camurus after the Share Sale remains unchanged, as does our steadfast and long-term commitment to the company.”
– Stefan Persson, President and CEO for Sandberg Development
The realization of the Share Sale will enable Sandberg Development to explore and execute new and attractive investment opportunities. The Share Sale is a result of significant incoming interest in the share and will contribute to increased liquidity and free float in the Camurus share.
ABG Sundal Collier and Skandinaviska Enskilda Banken (“SEB”) acted as Joint Bookrunners in connection with the Share Sale and Mannheimer Swartling Advokatbyrå acted as legal advisor to Sandberg Development in connection with the Share Sale.
For further information, contact:
Stefan Persson
President/CEO Sandberg Development
Mobile: +46 706715001
sp@sbdev.com
About Sandberg Development
Sandberg Development is a family-owned investment company that contributes to growth and social value through active ownership of innovation-driven companies - focusing on water technology, quality of life, and security. Its investments are distributed across the business areas Invest, Growth, and Incubator. Invest covers Sandberg Development’s wholly-owned holdings and comprises the subsidiaries Aimpoint, GAIM, Nordisk Clean Solutions, RESCUE Intellitech, and SWATAB. Growth consists of minority ownership in the companies Drupps, Clean Oil Technology (publ), Orbital, Watersprint, Silanos, Reccan, ISEC Monitoring Systems, and the listed company Camurus. Sandberg Development’s incubator was created in 2023 and currently consists of Xocchiali and PluvioFlow. Turnover for the Group in 2023 amounted to SEK 2.1 billion. For more information, visit: www.sandbergdevelopment.com
IMPORTANT INFORMATION
Publication, distribution or release of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this 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 Camurus in any jurisdiction, either from Sandberg Development or from anyone else.
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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 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 U.S. Securities Act from 1933, as amended, and without being in compliance with applicable securities laws of any state or other jurisdiction of the United States. 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 the United States, Australia, Japan, Canada, South Africa or any other jurisdiction where the release, distribution or publication 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.