Dicot resolves on a directed issue of shares (overallotment issue) to subscribers in the oversubscribed rights issue
Dicot AB (”Dicot” or the "Company") has completed the rights issue of units amounting to SEK 20.3 million, which was made public on July 23, 2019 (the “Rights Issue”). In light of the oversubscription of the Rights Issue, the Board of Directors has resolved to exercise the possibility to resolve on an overallotment option as described in the investment memorandum. Accordingly, the Board of Directors has resolved on a directed issue of [779 082] shares to certain subscribers in the Rights Issue (the “Overallotment Issue”). Upon full subscription in the Overallotment Issue, the Company will receive approximately SEK [2] million before issue costs.
The Board of Directors has resolved to issue 779,082 shares as authorized by the annual general meeting held on May 16, 2019. The shares are issued at a subscription price of SEK 2.60 per share, which corresponds to the subscription price for one share in the Rights Issue. Upon full subscription in the Overallotment Issue and following registration of the Overallotment Issue with the Swedish Companies Registration Office, the Company’s share capital will increase by SEK 97,358.25 to SEK 2,045,091 and the total number of shares will increase by 779,082 to 16,360,728.
The right to subscribe for shares in the Overallotment Issue belongs to subscribers in the Rights Issue, who subscribed for units through unit rights and who also subscribed for additional units which they were not allotted. Allocation has been made pro rata in relation to the number of unit rights that each subscriber has exercised for subscription.
Subscription of shares shall be made by payment no later than September 25, 2019.
Advisors
Mangold Fondkommission AB has acted as financial advisor to the Company in the Rights Issue. Advokatfirman Lindahl KB has acted as legal advisor to the Company.
For further information, please contact:
Julie Silber, CFO and Director of Investor Relations, Dicot
Tel: +46 79 348 62 77
E-mail: julie.silber@dicot.se
www.dicot.se
About Dicot AB
Dicot is a pharmaceutical company focused on drug discovery and the development of novel lifestyle drugs to enrich patients' lives. The Company develops and manufactures medicines for the treatment of erectile dysfunction and premature ejaculation. The company's lead product, Libiguin™, for the treatment of sexual dysfunctions, is in a stage of pre-clinical development. Dicot is listed on the Spotlight Stock Market and has approximately 700 shareholders. For more information see www.dicot.se.
This information is such that Dicot AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The information was made public by the Company’s contact person above on September 20, 2019.
Important information
This press release is not an offer to subscribe for shares or units in Dicot and investors should not subscribe or acquire any securities. Invitation to concerned persons to subscribe for shares in Dicot will only be made through the investment memorandum that Dicot published on September 2, 2019.
This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions.
Neither unit rights, units subscribed for ("BTU") or newly issued units have been recommended or approved by any US federal or state securities authority or regulatory authority. No unit rights, BTA or newly issued shares have been registered or will be registered under the United States Securities Act of 1933, as applicable, or in accordance with applicable laws in the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or in any other country where the Rights Issue or distribution of the press release is in violation of applicable laws or regulations or presupposes that a further investment memorandum is established, registered or that any other measure is undertaken beyond that required by Swedish law.
There is no intention to register any portion of the offer in the United States and the securities issued in the Rights Issue will not be offered to the public in the United States.
This press release may contain certain forward-looking information that reflects Dicot's current views on future events as well as financial and operational development. Words that are "intended", "come", "judged", "expected", "can", "plan", "appreciate" and other expressions that imply indications or predictions about future developments or trends, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it depends on future events and circumstances. Forward-looking information does not constitute a guarantee of future performance or development and actual outcomes may differ substantially from what is stated in forward-looking information. This information, the opinions and the forward-looking statements contained in this press release are valid only on this date and may be amended without notice. Dicot makes no representations about publishing updates or revisions of forward-looking information, future events or similar circumstances other than the applicable law.