Bluefish issues fully subscribed convertible bonds of SEK 60 million

Bluefish Pharmaceuticals has successfully completed a convertible bond issue amounting to SEK 60 million.

The aggregate amount of the convertible debt instrument is SEK 60 million. The loan is due for repayment on 30 June, 2014. Interest accrues by nine (9) percent annually and matures on 30 June every year, and for the first time on 30 June, 2012. The convertible bond holder has the right to convert at any time up until 31 March, 2014 at a conversion price of SEK 7.50 per share. The convertible bond holder will receive one new class B share for each full multiple of the conversion price of the principal amount.

The total amount of SEK 60 million includes a conversion of debt provided by two of the company’s shareholders, Färna Invest AB and Karl AT Karlsson AB amounting to SEK 23.4 million earlier in 2011. Hence, new capital provided to the company amounts to SEK 36.6 million.

Assuming full conversion of the convertible debt into common stock, the number of new B shares in Bluefish will increase by 8 000 000 and the share capital will increase by SEK 1 600 000. The intention of the convertible debt issue has been to secure the company's increased need for working capital as well as funds for further investments in the company’s product portfolio.

Carnegie Investment Bank AB is financial advisor to Bluefish

For more information contact,

Karl Karlsson, President & CEO Bluefish Pharmaceuticals
Tel. 46 8 519 116 20
Email: karl.karlsson@bluefishpharma.com

Susanna Urdmark, CFO Bluefish Pharmaceuticals
Tel. 46 8 519 116 21
Email: susanna.urdmark@bluefishpharma.com

www.bluefishpharma.com