Information relating to the decided rights issue in Vicore Pharma
The Board of Directors of Vicore Pharma Holding AB (publ) (”Vicore”) informs about the time plan for the rights issue (the ”Rights issue”) that was resolved at the Extraordinary General Meeting on 13 August, 2018.
The Rights issue in summary
Those registered as shareholders in Vicore on the record date, 17 September 2018, are entitled to receive subscription rights entitling to preferential rights to subscribe for shares in the Rights issue. Each existing share entitles to one (1) subscription right. Three (3) subscription rights entitle to subscription of one (1) share. Insofar as new shares are not subscribed for with preferential rights, these shall be offered to shareholders and other investors that have applied for subscription of shares in Vicore. The subscription price has been set at SEK 10.00 per share, which implies that the Rights issue will provide Vicore with SEK 82.4M before issue costs, by issuing a maximum of 8,240,002 shares. Shareholders who choose not to participate in the Rights issue will be diluted by up to 25.0 percent, but are able to economically compensate themselves for the dilutive effect by selling their subscription rights.
In connection with the Rights issue a number of existing shareholders have entered into subscription commitments or have declared their intention to subscribe for shares amounting to approximately SEK 57.7M, corresponding to approximately 70 percent of the Rights issue.
Time plan
- Last day of trading in the share including the right to receive subscription rights: 13 September, 2018
- First day of trading in the share excluding the right to receive subscription rights: 14 September, 2018
- Record date for participation in the Rights issue: 17 September, 2018
- Subscription period: 19 September – 3 October, 2018
- Trading in subscription rights: 19 September – 1 October, 2018
- Trading in paid subscribed shares (interim shares): from September 19, 2018 until conversion of paid subscription shares to ordinary shares is effectuated
- Announcement of the outcome in the Rights issue: around 10 October, 2018
- Conversion of paid subscribed shares to ordinary shares: Week 43
For further information, please contact:
Dr. Carl-Johan Dalsgaard, CEO: +46 709 759 863, carl-johan.dalsgaard@vicorepharma.com
About Vicore Pharma Holding AB (publ)
Vicore Pharma AB is focused on the development of drugs for the treatment of interstitial lung diseases. The company’s two major development programs, VP01 (C21) and VP02 (IMiD), act through the AT2 receptor and is an immunomodulatory drug substance class being developed for local treatment, respectively. The company’s drug candidate C21 aims to improve the treatment of idiopathic pulmonary fibrosis, a rare disease for which C21 has been granted orphan drug designation both in the EU and the US. In addition, C21 is explored pre-clinically in a number of rare diseases where the AT2 receptor plays an important role. VP02 has in earlier experiments shown an effect in e.g. idiopathic pulmonary fibrosis with another administration form which, however, has limited its continued development. VP02 is being developed for local treatment in order to e.g. overcome such shortcomings. The company is based in AstraZeneca's Bioventurehub in Mölndal. The company's share (VICO) is listed for trading on Nasdaq First North in Stockholm with Erik Penser Bank as Certified Adviser. For more information, see www.vicorepharma.com