BioArctic AB (publ) (“BioArctic” or the “Company”) today announces the outcome of the offering of the Company’s B-shares (the “Offering”) and the listing of the B-shares on Nasdaq Stockholm. The Offering attracted very strong interest from institutional investors as well as the general public in Sweden. The Offering was substantially over-subscribed and all retail investors were allocated shares in the Offering.
The Offering in brief
- As previously announced, the price per share in the Offering was SEK 24, corresponding to a total value of the number of outstanding shares in BioArctic of SEK 2,113 million following the completion of the Offering.
- The Offering comprises 25,000,000 newly issued B-shares, corresponding to approximately 28.4 percent of the total number of shares in the Company following the completion of the Offering.
- The number of shares in the Offering was increased, in accordance with the terms of the Offering, by 4,166,666 existing shares, corresponding to 4.7 percent of the total number of shares in the Company following the completion of the Offering.
- In addition, a few existing shareholders (“Selling Shareholders”) have granted Carnegie Investment Bank AB (“Carnegie”) an over-allotment option to acquire a maximum of 4,375,000 existing B-shares of Selling Shareholders, corresponding to a maximum of approximately 15 percent of the B-shares in the Offering (“Over-allotment option”).
- Assuming that the Over-allotment Option is exercised in full, the total value of the Offering amounts to 33,541,666 shares corresponding to approximately SEK 805 million.
- Approximately 6,000 investors have been allocated shares in BioArctic.
- The first day of trading for BioArctic’s B-shares on Nasdaq Stockholm is today, 12 October 2017, under the ticker “BIOA B”.
- Trading is conditional until the settlement day, which is expected to be on 16 October 2017.
Gunilla Osswald, CEO at BioArctic:
“We are very proud and pleased by the significant interest shown in BioArctic in Sweden as well as abroad during the listing process. The listing will enable us to continue the development of innovative pharmaceuticals with the aim to improve the quality of life for the patients. It is with great pleasure that we welcome new and old shareholders to take part in this next step in the journey to develop BioArctic in a public environment.”
Carnegie Investment Bank AB (publ) is Global Coordinator and Joint Bookrunner, DNB Markets a part of DNB Bank ASA’s Swedish branch, is Joint Bookrunner. Advokatfirman Lindahl KB is legal advisor to the Company. Baker McKenzie is legal advisors to the Joint Bookrunners regarding Swedish and US law.
For further information, please contact:
Gunilla Osswald, CEO at BioArctic
Telephone: + 46 (0)8 695 69 30
Christina Astrén Eriksson, Head of Communications at BioArctic
Telephone: + 46 (0)70 835 43 36
This information is information that BioArctic AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, on October 12, 2017, at 08.00 a.m. CET.
BioArctic AB (publ) is a Swedish research based biopharma company focusing on disease modifying treatments and reliable biomarkers and diagnostics for neurodegenerative diseases, such as Alzheimer’s disease and Parkinson’s disease. The company also develops a potential treatment for Complete Spinal Cord Injury. BioArctic focuses on innovative treatments in areas with high unmet medical needs. Collaborations with universities are of great importance to the company together with our strategically important global partners in the Alzheimer (Eisai) and Parkinson (AbbVie) projects. The project portfolio is a combination of fully funded projects run in partnership with global pharmaceutical companies and innovative in-house projects with significant market- and out-licensing potential. www.bioarctic.com
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by BioArctic AB.
This announcement and the information contained herein is not for distribution in or into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
In any EEA Member State, other than Sweden, that has implemented Directive 2003/71/EC as amended (together with any applicable implementing measures in any member State, the “Prospectus Directive”), this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
In the United Kingdom, this announcement and the information that this announcement contains is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of the Prospectus Directive. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
Certain matters discussed in this announcement constitute forward-looking statements. Forward looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.
In connection with the offer or sale of securities referred to herein, the Joint Global Coordinators may overallot securities/conduct stabilization or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. Any stabilization action or over-allotment will be conducted by the Joint Global Coordinators in accordance with all applicable laws and rules.