Asarina Pharma issues new shares to Ergomed plc
(Stockholm, 20 February, 2020) Asarina Pharma AB (publ) (“Asarina Pharma” or the “Company”) today announces that it will, pursuant to the authorisation granted by the Annual General Meeting on 21 January 2020, issue 301,724 new shares to Ergomed plc (“Ergomed”), the CRO carrying out Asarina Pharma’s phase IIb PMDD study.
The share issue is triggered by the achievement of a milestone in the PMDD study, and it represents 1.6% of the current share capital in Asarina Pharma.
The current payment to Ergomed amounts to SEK 8,387,927.20 and the number of shares has been determined at the market price on the invoice date 31 January 2020 (SEK 27.80). The Board of Directors considers the subscription price and other conditions for the issue to be on market terms. The new shares will be transferred to Ergomed as soon as they have been registered at Bolagsverket, the Swedish Companies Registration Office.
As previously announced, Ergomed sold its holdings in the Company in connection with the directed issue that the Company carried out during the fall of 2019. In connection with that, Ergomed agreed to, with customary exceptions, a lock-up undertaking for a period of 180 days from and including 23 October 2019. This lock-up undertaking also applies to the shares that have now been issued to Ergomed. After the issue, Ergomed holds 301,724 shares in Asarina Pharma.
The Company's total number of outstanding shares increases from 18,442,800 to 18,744,524. The issue increases the share capital by SEK 75 431,0030102543000, from SEK 4,610,700.184001 to SEK 4,686,131.187011.
For further information, please contact:
Jakob Dynnes Hansen, CFO, Asarina Pharma AB
Phone: +45 5132 3698
Erik Penser Bank AB
Phone: +46 8-463 83 00
About Asarina Pharma
We are a Swedish biotech company developing Sepranolone, the world’s first dedicated treatment for premenstrual dysphoric disorder (PMDD) and other menstrual-related conditions. Our product pipeline is built on over 40 years’ research into menstrual-related disorders like PMDD and menstrual migraine. With our new family of GAMSA compounds (GABAA Modulating Steroid Antagonists), we aim to deliver a new generation of efficacious and safe drugs for still widely untreated conditions, thereby becoming a leading Women’s Health company.
The information above was submitted by Asarina Pharma AB CEO Peter Nordkild for publication on 20 February 2020 at 1700 CET.