Stayble Therapeutics AB publishes prospectus relating to the rights issue
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, CANADA, NEW ZEELAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE, RUSSIA, BELARUS OR IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION OR WOULD REQUITE FURTHER REGISTRATION OR OTHER MEASURES ABOVE WHAT IS REQUIRED BY SWEDISH LAW. PLEASE SEE “IMPORTANT INFORMATION” AT THE END OF THIS PRESS RELEASE.
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 offentliggör prospect med anledning av företrädesemissionen”.
Today, March 17th, 2023, the Board of Directors of Stayble Therapeutics AB (“Stayble” or the “Company”) publishes the prospectus relating to the Company’s upcoming rights issue of shares, for which the subscription period starts on Friday, March 24th, 2023 (the “Rights Issue”). The prospectus has today been approved and registered by Swedish Financial Supervisory Authority and will be made available on the Swedish Financial Supervisory Authority’s website (www.fi.se). The prospectus is also available, starting today, on the websites of the Company (www.staybletherapeutics.com), Sedermera Corporate Finance AB (www.sedermera.se) and Nordic Issuing AB (www.nordic-issuing.se).
On February 22nd, 2023, Stayble announced that the Board of Directors had resolved on a rights issue of shares with preferential right for existing shareholders. The decision by the Board of Directors was approved by an extraordinary general meeting held on March 16th, 2023. The prospectus, including full terms and conditions, has today, March 17th, 2023, been approved and registered by the Swedish Financial Supervisory Authority and will be published on Swedish Financial Supervisory Authority’s website (www.fi.se). The prospectus is also available on the websites of the Company (www.staybletherapeutics.com), Sedermera Corporate Finance AB (www.sedermera.se) and Nordic Issuing AB (www.nordic-issuing.se).
A summary teaser will be published on the websites of the Company, Sedermera Corporate Finance AB and Nordic Issuing AB at the latest in connection with the start of the subscription period.
The information is also available on Stayble’s website concerning the Rights Issue: https://staybletherapeutics.com/wp-content/uploads/2023/03/StaybleTherapeutics_EU-tillvaxtprospekt_2023.pdf
Timetable for the Rights Issue
- Last day of trading in shares including the right to participate in the Rights Issue: March 17th, 2023
- First day for trading in shares excluding the right to participate in the Rights Issue: March 20th 2023
- Record date for participation in the Rights Issue: March 21st 2023
- Trading in subscription rights: March 24th 2023–April 5th 2023
- Subscription period: March 24th 2023–April 12th 2023
- Announcement of the final outcome of the Rights Issue: Around April 13th–17th 2023
- Trading with BTA (Paid Subscribed Share): Starting on March 24th 2023 and will continue until the Swedish Companies Registration Office has registered the Rights Issue. The last day of trading with BTA will be announced through a separate press release after the Rights Issue is concluded.
Summary of the offer
- Subscription price: SEK 1,78 per share.
- Issue volume: The offer includes a maximum of 19,781,320 new shares. The Company can be provided a maximum of approximately SEK 35.2 million, before deduction of transaction related costs.
- Preferential right to subscribe: For each share in Stayble held on the record date of March 21st, 2023, one (1) subscription right is received. Seven (7) subscription rights entitle the holder to subscribe for ten (10) new shares.
- Subscription and payment: Subscription of shares are to take place during the subscription period in accordance with ”Villkor för Erbjudandet” in the prospectus. Please observe that subscription rights which the shareholder does not intend to use must be sold at the latest on April 5th, 2023, to not expire without value.
- Number of shares before the Rights Issue: 13,846,924
- Dilution: Existing shareholders who choose not to use their subscription rights to subscribe for new shares will be subject to a dilution effect corresponding to approximately 58.8 percent of the votes and capital in the Company, upon full subscription.
- Underwriting and pre-subscription commitments: Stayble has received pre-subscription and underwriting commitments amounting to up to approximately SEK 28.2 million (which equals up to 80 percent of the issue volume).
- Marketplace: Nasdaq First North Growth Market.
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
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.