Diamyd Medical’s rights issue oversubscribed
Diamyd Medical (Nasdaq Stockholm First North, DMYD B) today announced that the Company has completed a new share issue with preferential rights for existing shareholders through which the Company will receive proceeds of MSEK 22.1 before issue expenses. There has been substantial interest in the issue. Subscription applications totaling approximately MSEK 45.8 were received, corresponding to a subscription rate of about 207 percent.
94.6 percent of the rights issue was subscribed based on subscription rights. In addition, 112.3 percent of the rights issue was subscribed without the exercise of subscription rights. In total, 206.9 percent of the overall number of shares were subscribed as part of the rights issue. Shares subscribed for without preferential rights have primarily been allocated to those who have subscribed for shares on the basis of preferential rights.
“Thank you all for your support. We will do our best to make this into a good investment and to the benefit of those with diabetes,” says Anders Essen-Möller, President and CEO of Diamyd Medical.
7,373,140 new shares will be issued as part of the rights issue, of which 319,528 comprise Series A shares and 7,053,612 Series B shares. On account of the rights issue, the number of shares in Diamyd Medical will increase to 29,492,562. The Company will receive proceeds of MSEK 22.1 before issue expenses.
Information regarding the possible allotment of shares, for subscribers without preferential rights, will be sent in the form of a settlement note. Settlement notes are expected to be dispatched on February 26, 2016.
As soon as the increase in the share capital has been registered by the Swedish Companies Registration Office, paid up BTAs (interim shares) in the rights issue will be converted to new shares. Until then, trading in BTAs will continue on Nasdaq Stockholm First North. Trading in the new shares is expected to commence on Nasdaq Stockholm First North in the week beginning on March 14, 2016. Diamyd Medical AB’s share capital will amount to SEK 2,991,219.79 after the issue.
About Diamyd Medical
Diamyd Medical is dedicated to finding a cure for autoimmune diabetes through pharmaceutical development and investments in stem cell and medical technology.
Diamyd Medical develops the diabetes vaccine Diamyd®, an Antigen Based Therapy (ABT) based on the exclusively licensed GAD-molecule. The Company’s licensed technologies for GABA and Gliadin have also potential to become key pieces of the puzzle of a future solution to prevent, treat or cure autoimmune diabetes, and also certain inflammatory diseases. At this time six clinical studies are ongoing with Diamyd®. Diamyd Medical is with its holdings of 39% one of the major shareholders in the stem cell company Cellaviva AB. Stem cells can be expected to be used in Personalized Regenerative Medicine (PRM), for example for restoration of beta cell mass in diabetes patients where the autoimmune component of the disease has been arrested. Diamyd Medical also has holdings in the medtech company Companion Medical, Inc., San Diego, USA and in the gene therapy company Periphagen, Inc., Pittsburgh, USA.
Diamyd Medical’s B-share is traded on Nasdaq Stockholm First North under the ticker DMYD B. Remium Nordic AB is the Company’s Certified Adviser.
For further information, please contact:
Anders Essen-Möller, President and CEO
Phone: +46 70 55 10 679. E-mail: anders.essen-moller@diamyd.com
Diamyd Medical AB (publ)
Kungsgatan 29, SE-111 56 Stockholm, Sweden. Phone: +46 8 661 00 26, Fax: +46 8 661 63 68
E-mail: info@diamyd.com. Reg. no.: 556242-3797. Website: www.diamyd.com.
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