StaybIe Therapeutics AB receives additional pre-subscription and underwriting commitments for the upcoming rights issue
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NB: This is an English convenience translation of this press release. In case of any discrepancy, the correct version is the Swedish original “Stayble Therapeutics AB erhåller ytterligare teckningsförbindelser och vederlagsfri toppgaranti I förestående företrädesemission”.
Stayble Therapeutics AB (”Stayble” or ”the Company”) hereby informs that the Company has received additional pre-subscription commitments as well as an additional remuneration-free top-down underwriting commitment regarding the upcoming rights issue from the Company’s single largest shareholders Chalmers Ventures AB, Robert Joki and Almi Invest Västsverige AB equal to approximately 3.7 MSEK. Through the remuneration-free top-down underwriting commitment by Almi Invest Västsverige AB, the rights issue is cover up to approximately 85 percent (approximately MSEK 30) by pre-subscription and underwriting commitments.
“I would like to thank our largest shareholders for the support they demonstrate for Stayble’s future plans. Your commitments help us to ensure funding to support our continued clinical development and means to prepare a successful partnership to bring our candidate STA363 to the market. We do not only have the opportunity to take a leading position on a global market, but also to improve the quality of life for millions of people,” Stayble´s CEO Andreas Gerward says.
The Board of Directors on February 22nd, 2023, resolved on a new issue of shares, with preferential rights for existing shareholders, which on March 16th, 2023, was approved by an extraordinary general meeting (“the Rights Issue”). The Company now informs it has extended the amount of underwriting commitments from the earlier approximately MSEK 24.1 to a total of approximately 25.9 by the remuneration-free top-down underwriting commitment by Almi Invest Västsverige AB. The additional remuneration-free top-down underwriting commitment thus amounts to approximately MSEK 1.8 (which equals approximately 5 percent of the total volume of the Rights Issue). The remuneration-free top-down underwriting commitment amounts to if the Rights Issue, for example, is subscribed to 95 percent, the underwriting commitment is executed for the remaining 5 percent up to a fully subscribed Rights Issue. This underwriting commitment is thus added to the previous subscription level of the Rights Issue (including other executed underwriting commitments, if applicable).
The Company also inform it has extended the amount of pre-subscription commitments from the earlier approximately MSEK 4.1 to a total of approximately 6.0 MSEK by an extended pre-subscription commitment of MSEK 0.3 made by Chalmers Ventures AB and a new pre-subscription commitment of approximately MSEK 1.6 by Robert Joki. The additional pre-subscription commitments regarding the Rights Issue thus amounts to a total of approximately MSEK 1.9.
Pre-subscription and underwriting commitments are not secured by advance transaction, bank guarantee or similar.
For complete information please refer to the prospectus established regarding the Rights Issue. The prospectus, containing full terms and conditions, as well as a summary teaser, are available at the Company’s (www.staybletherapeutics.com), Sedermera Corporate Finance AB’s (www.sedermera.se) and Nordic Issuing AB’s (www.nordic-issuing.se) respective web pages. The investment documents are also available at Stayble’s web page for the Rights Issue: https://www.foretradesemission.staybletherapeutics.se/
Advisors
In connection with the Rights Issue, Stayble has appointed Sedermera Corporate Finance AB as financial advisor, Markets & Corporate Law Nordic AB as legal advisor and Nordic Issuing AB as issuing agent. Shark Communication AB has assisted the Company with advice regarding communication.
For more information
For more information about the Rights Issue, please contact:
Sedermera Corporate Finance AB
Phone: +46 40 615 14 10
E-mail: info@sedermera.se
For more information about Stayble, please contact:
Andreas Gerward, CEO Stayble Therapeutics AB
E-mail: andreas.gerward@stayble.se
Phone: +46 (0) 730 808 397
This information is the type of information that Stayble Therapeutics AB is obliged to publish pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on
March 23rd, 2023.
About Stayble Therapeutics AB
Stayble is a clinical-stage pharmaceutical company developing the STA363 injection treatment for degenerative disc disease (DDD) and chronic disc herniation (LDH). Stayble's vision is to offer patients a simple and effective treatment that addresses the underlying cause of the patient's chronic pain and provides lasting pain relief and increased physical function. Aimed at patients who are not helped by physiotherapy and painkillers, the treatment is a single injection that is expected to last a lifetime and requires minimal rehabilitation. The company is now focused on clinical development and is currently conducting a Phase 2b clinical trial in DDD and a Phase 1b trial in LDH.
Svensk Kapitalmarknadsgranskning AB is the Company’s Certified Advisor.
IMPORTANT INFORMATION
The information in this press release does not constitute an offer to sell or issue, or the solicitation of an offer to buy or acquire, or subscribe for, shares, subscription rights, paid subscribed share (“BTA”), warrants, newly issues shares or other securities in Stayble. Invitation to persons concerned to subscribe to shares will only be available through the EU Growth Prospectus which was published on March 17th 2023.
Neither shares, subscription rights, BTA, warrants, newly issued shares or other securities are recommended or approved by any American federal or state securities authority or supervisory authority. No shares, subscription rights, BTA, warrants, newly issues shares or other securities are registered or will be registered according to the United States Securities Act of 1933 in its current wording, or by any other admissible law in the United States, Australia, Japan, Canada, New Zeeland, South Africa, Hong Kong, Switzerland, Singapore, Russia, Belarus or any other country where the Rights Issue or distribution of this press release violates Swedish law or regulations or requires the a further prospectus to be drafted, registered or any other measures to be taken except those required by Swedish law. The press release, as well as the prospectus and other documents referring to the Rights Issue, are thus not permitted to distribute to or within any such jurisdiction.
This press release may contain forward-looking statements that reflect Stayble’s current view of future events as well as financial and operational development. Words such as “intend”, “assess”, “except”, “may”, “plan”, “estimate” and other expressions involving indications or predictions regarding future developments or trends, constitute forward-looking statements. Forward-looking statements by nature entail known as well as unknown risks and insecurities since they are dependent on future performance and circumstances. Forward-looking statements do not constitute any guarantee regarding future results or development and the actual results may significantly vary from what is stated in forward-looking statements.
This information, these opinions and these forward-looking statements found in this press release are only valid and this date and are subject to change without notice. Stayble makes no commitment to update or revise forward-looking statements, future events or similar circumstances except when required by applicable legislation.