NextCell Pharma’s rights issue was oversubscribed
NextCell Pharma AB ("NextCell" or the ”Company”) announces today the outcome in the Company’s new issue of shares with preferential rights for existing shareholders of approximately SEK 150 million (the “Rights Issue”). The Rights Issue was oversubscribed. Thus, no guarantees have been utilized.
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- 9,619,493 shares, corresponding to 95.9 per cent of the Rights Issue were subscribed using subscription rights.
- In addition, applications for subscription without using subscription rights corresponding to 2,679,897 shares have been received.
- The Rights Issue was fully guaranteed through subscription undertakings of approximately 45 per cent and guarantee commitments of approximately 55 per cent.
- No guarantee commitments have been utilized.
The net proceeds will, among other things, be used to finance the clinical phase-III trial ProTrans-3, preparatory work for the application of market approval of ProTrans™, the Company's day-to-day operations, and the development of ProTrans™ for new indications.
“I want to thank both existing and new shareholders for the trust we have received. The size of the issue amount is significant, it is incredibly gratifying to see the great interest in NextCell”, says Mathias Svahn, CEO.
“I would like to thank both existing and new shareholders for the trust we have received. The size of the issue is significant, it is incredibly gratifying to see the great interest in NextCell ", says Mathias Svahn, CEO
The outcome of the Rights Issue
The subscription period in the Rights Issue ended on 21 December 2020. The outcome of the Rights Issue shows that 9,619,493 shares, corresponding to approximately 95.9 percent of the Rights Issue, were subscribed with the support of subscription rights. In addition, Applications for subscription without the support of subscription rights corresponding to 2,679,897 shares have been received. As the Rights Issue was oversubscribed, no guarantees have been utilized. The subscription price in the Rights Issue amounted to SEK 15 per share and through the Rights Issue, the Company receives approximately SEK 150 million before transaction costs.
Allocation of shares
Allocation of shares in the Rights Issue has taken place in accordance with the principles stated in the prospectus published by the Company on 3 December 2020. Notice of allotment to the investors who have subscribed for shares without the support of subscription rights is made through a settlement note sent to each subscriber who has received allocation. Payment for allocated shares must be made in accordance with the instructions on the settlement note.
Shares and share capital
Following registration of the new shares with the Swedish Companies Registration Office, the Company's share capital will increase by SEK 2,055,710,685 from SEK 4,796,658.47 to SEK 6,852,369,155. The number of shares in the Company will increase by 10,027,857 shares from 23,398,334 shares to 33,426,191 shares. Conversion of paid interim shares (Sw: BTA) will take place after the registration is completed with the Swedish Companies Registration Office, which is expected to take place around week 1, 2021.
Advisors
Vator Securities AB is financial advisor, and Eversheds Sutherland Advokatbyrå AB is legal advisor to NextCell in connection with the Rights Issue. Avanza Bank AB is issuing agent in connection with the Rights Issue.
Important information
The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in NextCell.
Neither subscription rights, paid interim shares ("BTA") nor newly issued shares have been recommended or approved by any US federal or state securities authority or regulatory authority. No subscription rights, BTAs or newly issued shares have been registered or will be registered under the United States Securities Act of 1933 in its current wording, or under any other applicable law 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 contrary to applicable laws or regulations or requires that further prospectuses be prepared, registered or that any other measure is taken in addition to what is required by Swedish law. Accordingly, the press release, as well as the prospectus, application form and other documents attributable to the Rights Issue may not be distributed to or within any such jurisdiction.
This press release may contain some forward-looking information that reflects NextCell's current outlook on future events, as well as financial and operational development. Such words are e.g. "intended", "will", "assessed", "expected", "can", "plan", "estimate" and other expressions that imply indications or predictions regarding future developments or trends constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties, as it is dependent on future events and circumstances. Forward-looking information does not constitute a guarantee regarding future results or development and actual results may differ materially 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 at this date and are subject to change without notice. NextCell Pharma AB makes no commitment to publish updates or revisions of forward-looking information, future events or similar circumstances other than as provided by applicable law.
This information is such information that NextCell Pharma AB is required to disclose under the EU Market Abuse Regulation. The information was provided by the below contact person for publication on 23 December 2020, 11.50 CET.
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LinkedIn: https://www.linkedin.com/company/15255207/
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For more information about NextCell Pharma AB, please contact:
Mathias Svahn, CEO
Sofia Fredrikson, CFO
Phone: 08-735 5595
E-mail: info@nextcellpharma.com
Website:
www.nextcellpharma.com, www.cellaviva.se
www.cellaviva.dk
About NextCell Pharma AB
NextCell is a Phase II cell therapy company with the lead candidate ProTrans™, for the treatment of type-1 diabetes. Focus is to take ProTrans™ to market approval via a phase III study. Furthermore, NextCell operates Cellaviva, Scandinavia's largest stem cell bank for family-saving of stem cells from umbilical cord blood and umbilical cord tissue with permission from IVO.
FNCA Sweden AB is assigned as Certified Adviser, 08-528 00 399, info@fnca.se.