Aptahem recalls outstanding convertible notes to Yorkville

Report this content

Aptahem AB (publ) today announces that the company intends to recall the outstanding amount of convertible notes held by YA II PN Ltd, a fund represented by the U.S.-based Yorkville Advisors Global (”Yorkville”).

Through a mutual agreement, Aptahem will recall the outstanding amount of convertible notes held by Yorkville to a price equivalent to their value of 1.1 MSEK. The convertible notes are the remaining lot of the agreement’s first tranche, which means that Yorkville will not have any outstanding convertible notes henceforth.

Ola Skanung, Chief Financial Officer (CFO) of Aptahem, comments “This is a mutual decision as both parties agree that our financial arrangement is currently not favorable. By reimbursing the tranche, further dilution of Aptahem’s shares is reduced and should strengthen the value for shareholders.”

”We entered into this agreement to enable focus on two main targets: to achieve clinical proof-of-concept and to enter into a strategic partnership. While circumstances change, our primary focus still remains the same and we need a financing solution that favors both our development program and our shareholders”, says Mikael Lindstam, CEO of Aptahem.

The financing solution refers to an issuance agreement that was signed between Aptahem and Yorkville on June 26, 2018. The issuance agreement remains as a backup alternative for future financing, within 29 months, which in any case will be evaluated in comparison with other financing options for Aptahem. To issue additional convertible notes, a formal decision at an annual general meeting will be required and, consequently, this is a decision that can only be decided through voting by the company’s shareholders.

For further information:
Aptahem AB

Mikael Lindstam, CEO
Tel: + 46 (0)766-33 36 99
E-mail: ml@aptahem.com

This information is information that Aptahem AB is obliged to make public according to the EU Market Abuse Regulation. The information was provided through the agency of the contact persons above, for publication on January 21, 2019.

Forward-looking statements
This communication contains forward-looking statements, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their nature, as is research and development work in the biotechnology segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios as described in this press release.

About Aptahem
Aptahem AB (APTA) is a biotechnology company that develops aptamer-based pharmaceuticals for the treatment of life-threatening conditions in which a combination of coagulation and inflammation are involved. The company’s primary pharmaceutical candidate, Apta-1, is being developed with the aim of preventing the high mortality rate caused by organ and tissue damage in sepsis patients, among others. The company possesses patent protection in strategic target markets and actively seeks business development opportunities with potential collaborators. 

Tags:

Subscribe

Documents & Links