Today, the subscription period of ExpreS2ion Biotech Holding AB’s rights issue starts
Today, on August 10th 2017, the subscription period in ExpreS2ion Biotech Holding AB’s (”ExpreS2ion”) rights issue of shares is initiated. The subscription period ends on August 24th 2017. A fully subscribed rights issue provides ExpreS2ion approximately SEK 3.9 million before issuing costs. Beforehand, the company has agreed on subscription commitments amounting to approximately SEK 2.2 million, which equals to approximately 57 percent of the rights issue’s total volume. Memorandum, teaser and subscription form are available on the website of the company (www.expres2ionbio.com) and the website of Sedermera Fondkommission (www.sedermera.se).
Motive for the rights issue
ExpreS2ion has had a very positive evolution during the last 12 months regarding new assignments, partnerships and business areas within biopharmaceuticals and development tools. During 2017, ExpreS2ion has established the Joint Venture AdaptVac ApS along with NextGen Vaccines ApS. The funds from the rights issue are primarily intended to finance an acceleration of the Company’s planned development activities. This, for instance, includes development and commercialisation of the Joint Venture, AdaptVac ApS, and its VLP (”Virus Like Particle”) technology as well as expansion of ExpreS2ion’s core business through further activities within services, products, patents and other activities related to ExpreS2ion’s access to the VLP technology through the Joint Venture AdaptVac ApS and its VLP technology.
Summary of the offer
- Subscription period: August 10 – 24, 2017
- Subscription price: SEK 4.50 per share
- Volume of issuance: The rights issue comprises a maximum of 872,873 shares, equalling to SEK 3,927,928.50
- Record date and preferential rights: The rights issue is conducted with preferential rights for existing shareholders in ExpreS2ion. Record date for receiving subscription rights was August 4th, 2017. For each held share in ExpreS2ion on the record date, one (1) subscription right was received. Ten (10) subscription rights entitle to subscription of one (1) new share in ExpreS2ion. Please note that also the public is invited to subscribe for shares in the rights issue
- Number of shares prior to the rights issue: 8,728,739 shares
- Trading period of subscription rights: Trading with subscription rights will be conducted through Nasdaq Stockholm First North from August 10th until August 22nd, 2017
- Company valuation in the offer (pre-money): Approximately SEK 39.3 million
- Trading period of BTAs: Trading with BTAs will be conducted on Nasdaq Stockholm First North from
August 10th, 2017 until the rights issue is registered at the Swedish Company Authority (“Bolagsverket”). Registration is expected to be finished in the middle of September 2017
- Subscription commitments: ExpreS2ion has received subscription commitments of approximately SEK 2.2 million, equalling to approximately 57 percent of the rights issue’s total volume
Memorandum, subscription form and teaser
Memorandum, teaser and subscription forms are available on the respective websites of ExpreS2ion (www.expres2ionbio.com) and Sedermera Fondkommission (www.sedermera.se).
Financial advisor and Certified Adviser
Sedermera Fondkommission is the financial advisor to ExpreS2ion in connection with the rights issue. Sedermera Fondkommission is also appointed as Certified Adviser for ExpreS2ion.
For questions related to the rights issue, please contact:
Telephone: +46 (0) 40-615 14 10
For further information, please contact:
Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
This information is information that ExpreS2ion Biotech Holding AB is obliged to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on August 10th, 2017.
ExpreS2ion Biotechnologies ApS, is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. The subsidiary has developed a unique platform technology, ExpreS2, enabling cost effective development and robust production of complex proteins for new vaccines and diagnostics for e.g. Malaria and Zika. Since founded in 2010, the company has used its patented ExpreS2 platform to produce more than 250 proteins in collaborations with research institutions and biopharmaceutical companies, with a superior efficiency and success rate.