Moberg Pharma completes tap issue of SEK 215 million

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STOCKHOLM, December 7th, 2016. Moberg Pharma AB (publ) (Moberg Pharma) (OMX: MOB) completes a tap issue of SEK 215M to its outstanding bond loan (ISIN: SE0007953989). The proceeds will be used as part financing of the acquisition of DermoPlast®.


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The tap issue has been placed at a price of 102.75 per cent of the nominal amount, indicating an interest rate of Stibor 3m + 5.27 per cent when applying a Stibor-floor at 0. After the tap issue, the total outstanding amount of the company’s bond loan will amount to SEK 600M, which equals the total framework amount of the bond loan. The bond loan is listed on Nasdaq Stockholm and the company will apply for listing of the new bonds on Nasdaq Stockholm. The settlement date of the tap issue is set to December 14th, 2016.

The issuance of the new bonds means that Moberg Pharma utilizes the waiver obtained from the bondholders. The consent fee of 0.5 per cent of the today outstanding nominal amount of the bonds will be paid to directly registered owners and registered authorised nominees (Sw. förvaltare) of the bonds as of December 12th, 2016 in the debt ledger produced by Euroclear Sweden. The payment is expected to be made on December 19th, 2016. Any individual or company whose bonds are held by a nominee receives the consent fee through such nominee.

We highly appreciate the support provided by our bondholders and the large interest for this tap issue. As a result, the issue has been placed at a premium to the nominal amount and we have secured the capital needed to complete the acquisition of DermoPlast®. From January 2017, DermoPlast® is expected to contribute significantly to our profitability and operative cash flow”, says Peter Wolpert, CEO of Moberg Pharma.

Carnegie Investment Bank and Swedbank have been engaged as financial advisors and Gernandt & Danielsson as legal advisor in conjunction with the tap issue.

About this information              
This information is information that Moberg Pharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 3.00 p.m. (CET) on December 7th, 2016. 

For more information, please contact:              
Peter Wolpert, CEO, telephone: +4670 - 735 71 35, e-mail: peter.wolpert@mobergpharma.se
Anna Ljung, CFO, telephone: +4670 - 766 60 30, e-mail: anna.ljung@mobergpharma.se

 

About Moberg Pharma, www.mobergpharma.com 
Moberg Pharma AB (publ) is a rapidly growing Swedish pharmaceutical company with OTC sales operations in the U.S. and a distributor network in more than 40 countries. The company’s portfolio includes the OTC brands Kerasal®, Kerasal Nail®, Balmex®, NewSkin®, Domeboro®, Fiber Choice®and PediaCare®(under divestment). Kerasal Nail®(Emtrix®or Nalox™ in certain markets) is a leading OTC treatment of nail disorders in the U.S., Canada as well as in several markets in EU and Southeast Asia. The company is growing organically as well as through acquisitions. Internal development programs focuses on innovative drug delivery of proven compounds and include two clinical stage assets, MOB-015 (onychomycosis) and BUPI (pain management in oral mucositis). Moberg Pharma has offices in Stockholm and New Jersey and the Company’s shares are listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm (OMX:MOB).

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We highly appreciate the support provided by our bondholders and the large interest for this tap issue. As a result, the issue has been placed at a premium to the nominal amount and we have secured the capital needed to complete the acquisition of DermoPlast®. From January 2017, DermoPlast® is expected to contribute significantly to our profitability and operative cash flow
Peter Wolpert, CEO of Moberg Pharma