Subscription price for Moberg Pharma's warrants of series 2020:1 determined
STOCKHOLM, March 14th, 2022. Moberg Pharma AB (publ) ("Moberg Pharma" or the "Company") hereby announces that the subscription price for warrants of series 2020:1 is SEK 6.47. The exercise period begins on 16 March 2022 and runs until 29 March 2022. The last day for trading in warrants of series 2020:1 on Nasdaq Stockholm is 25 March 2022.
In 2020, Moberg Pharma carried out a rights issue of units. Each unit consisted of one (1) ordinary share and one (1) warrant in Moberg Pharma. Two (2) warrants entitle the holder to subscribe for one (1) new ordinary share in Moberg Pharma.
The subscription price for the warrants was set at the higher of (i) SEK 6.47 and (ii) 70 percent of the volume-weighted average price for the Company's share on Nasdaq Stockholm during the period 28 February – 11 March 2022. 70 percent of the volume-weighted average price during the measurement period was below SEK 6.47 and thus the subscription price is SEK 6.47.
Warrants of series 2020:1 in brief
Exercise period: 16 March 2022 - 29 March 2022.
Subscription prices: The subscription price is SEK 6.47.
Issue volume: 23,175,576 warrants of series 2020:1. Upon full exercise of the warrants, 11,587,788 ordinary shares in Moberg Pharma will be issued and the Company will receive approximately MSEK 75 before transaction costs.
Last day for trading in warrants of series 2020:1 is 25 March 2022.
Upon full exercise of warrants of series 2020:1, the number of shares and votes in Moberg Pharma will increase by 11,587,788 and the share capital will increase by SEK 1,158,778.8, from SEK 4,551,142.5 to SEK 5,709,921.3. This entails a dilution of approximately 20.3 percent based on the number of shares and votes in Moberg Pharma after full exercise of all warrants of series 2020:1.
The warrants of series 2020:1 are listed for trading on Nasdaq Stockholm with the short name "Moberg Pharma TO1". The ISIN code for the warrants of series 2020:1 is SE0015195524.
Important dates for warrants of series 2020:1
16 March 2022 – The exercise period begins
25 March 2022 – Last day of trading in the warrants
29 March 2022 – The exercise period ends
31 March 2022 – Planned date for publication of the warrant exercise outcome
19 April 2022 – Planned date for conversion of interim shares to shares
Subscription forms are available on Moberg Pharma's and Hagberg & Aneborns AB's respective websites. Full terms and conditions for the warrants of series 2020:1 are available on Moberg Pharma’s website.
Action from you as a warrant holder is required – how to exercise your warrants of series 2020:1
The warrants of series 2020:1 will cease to be traded on 25 March 2022. In order for your warrants not to expire, your action is required. You must apply for subscription for new shares, by exercise of warrants, no later than on 29 March 2022.
You can have your warrants registered in two ways:
- In a securities custody account with a bank or other nominee (for example, Avanza or Nordnet), in an investment savings account (Sw. Investeringssparkonto) or endowment account (Sw. Kapitalförsäkring). Your warrants are then nominee registered.
- In a VP-account (a VP-account starts with three zeros). Your warrants are then directly registered.
If your warrants are nominee registered
Subscription and payment of new shares, by exercise of warrants, shall be made to the account-holding bank/nominee with which the warrants are registered. The subscription and payment shall be made in accordance with instructions from each such bank or nominee. Usually, the bank/nominee sends out a digital notice to the account holder, otherwise it is enough to log into the securities custody account from the first day in the exercise period in order to get instructions on how to exercise warrants for subscription of new shares. If you do not find these instructions, please contact your bank or trustee. Please note that banks and other nominees may set different time limits for the last day for subscription, hence it is recommended to contact the account-holding bank/nominee early in the exercise period. Shares subscribed and paid for may be entered as “interim shares” or “IA” into your securities custody account until registration of the new shares is completed with the Swedish Companies Registration Office, whereby interim shares will automatically be converted to ordinary shares in Moberg Pharma.
If your warrants are directly registered
Subscription of new shares, by exercise of warrants, shall be made by sending a completed subscription form to Hagberg & Aneborn AB. In conjunction with sending the completed subscription form, payment must be made to Hagberg & Aneborn AB in accordance with the payment details stated on the subscription form. Completed subscription form and payment must be registered with Hagberg & Aneborn AB no later than on 29 March 2022. Shares subscribed and paid for will be entered as “interim shares” (“IA”) into your VP-account until registration of the new shares is completed with the Swedish Companies Registration Office, whereby interim shares will automatically be converted to ordinary shares in Moberg Pharma.
About this information
The information was submitted for publication, through the agency of the contact persons set out above on 14 March 2022, at 08:00 CET.
For additional information, please contact:
Anna Ljung, CEO, telephone: +46 707 66 60 30, e-mail: anna.ljung@mobergpharma.se
Mark Beveridge, VP Finance, Phone: + 46 76 805 82 88, e-mail: mark.beveridge@mobergpharma.se
About Moberg Pharma, www.mobergpharma.com
Moberg Pharma AB (publ) is a Swedish pharmaceutical company focused on commercializing proprietary innovations based on drug delivery of proven compounds. The company’s main asset, MOB-015, is a novel topical treatment for onychomycosis. Data from phase 3 clinical trials in more than 800 patients for MOB-015 indicate that the product has the potential to become the future market leader in onychomycosis. Moberg Pharma has agreements with commercial partners in place in Europe and Japan, among others, and the company's goal is to receive its first market approval and launch MOB-015 in 2023. Moberg Pharma is headquartered in Stockholm and the company’s shares are listed on the Small Cap list of the Nasdaq Stockholm (OMX: MOB).
Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe for or otherwise trade in shares, warrants or other securities in Moberg Pharma. The invitation to the persons concerned to subscribe for units consisting of shares and warrants in Moberg Pharma has only been made through the prospectus published by Moberg Pharma on 3 December 2020.
Tags: