Moberg Derma AB (publ) completes the aqcuisition of Alterna LLC and executes an issue in kind as part of the acquisition
Under the authorization from the extraordinary general meeting on November 19th, 2012, the Board of Directors of Moberg Derma AB (publ) resolved on November 27th, 2012, to execute an issue in kind of up to 825 652 shares, and thereby complete the acquisition of Alterna LLC.
As previously announced, Moberg Derma (publ) has on October 24th 2012, entered into an agreement to acquire all membership interests in Alterna LLC (“Alterna”). The acquisition was approved by the shareholders on an extraordinary general meeting on November 19th 2012 and the Board of Directors was authorized to execute a share issue in kind of up to 825 652 shares as part of the purchase consideration for Alterna.
On November 27th 2012, the Board of Directors resolved to execute the share issue in kind and thereby complete the acquisition of Alterna LLC. The share issue in kind will lead to an increase in the number of shares of Moberg Derma from 9 986 920 shares to 10 812 572, which will result in a dilution of 7.6 percent for existing shareholders. The newly issued shares have been subscribed by Alterna’s previous principal owner Altaris Capital Partners, the CEO of Alterna, the CFO of Alterna and the founders of Alterna. The completion of the acquisition has also resulted in that George Aitken-Davies, representative of Altaris, on November 27th 2012, assumed the position as member of the Board of Directors of Moberg Derma, in accordance with the resolution on the extraordinary general meeting on November 19th 2012.
About this information
Moberg Derma discloses this information pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 8.00 am (CET) on November 28th 2012.
For additional information contact:
Peter Wolpert, CEO
Mobile: +46 (0)70 - 735 71 35
Magnus Persson, head of investor relations
Mobile: +46 (0)73 – 355 26 01
About Moberg Derma
Moberg Derma AB (publ) is a rapidly growing Swedish pharmaceutical company with direct sales through its own sales organization in the US and sales through distributors in more than 35 countries. The Company’s product portfolio includes topical products for the treatment of skin disorders and pain under the brands Kerasal®, Jointflex®, Emtrix® and Kaprolac®. Emtrix® (Nalox™ in many markets) is the leading product for the treatment of nail disorders in the Nordic market. The portfolio is developed further through acquisitions and in-licensing of products as well as product development with focus on innovative drug delivery based on proven compounds. Moberg Derma has offices in Stockholm and New Jersey and the company’s share (OMX: MOB) is listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergderma.com.