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HUDDINGE, Sweden, February 7, 2021 / PRNewswire / – The board of directors of Medivir AB (publ) (“Medivir” or the “Company”) has decided to call an extraordinary general meeting on March 11, 2021 offer a directed issue (the “Directed Issue”) to the existing specialist investor of LINC AB (“LINC”), controlled by the member of the board of directors of the company Bengt Julander.
In the rights issue, from which the preliminary results were announced on February 5, 2021 (the “question of rights”), Bengt Julander (via LINC) among others subscribes to subscription and guarantee commitments. The rights issue was largely oversubscribed and no guarantee commitments had to be used. Through an over-allotment option linked to the issue of rights (the “over-allotment option”), the specialist investor Healthinvest Partners AB has been added to the shareholding of the company. Due to the strong interest shown in the issue of rights and in order to further strengthen the institutional shareholding of the Company, the Board of Directors has decided to convene an extraordinary general meeting on March 11, 2021 to offer a directed number of approximately 28 million SEK at Bengt Julander (via LINC).
Since the directed program is directed to a company controlled by a board member Bengt Julander, which is part of the related party category of the company referenced in Chapter 16 of the Swedish Companies Act (sw. ABL) (2005: 551), the directed issue requires the approval of the shareholders of the company representing at least nine tenths of the votes cast as well as the shares represented at the extraordinary general meeting of March 11, 2021, for which a notice will be published separately. Bengt Julander was not involved in the decision regarding the board-run show.
The extraordinary general meeting will vote on the proposal to issue a total of 3,600,000 new series B shares, intended for Bengt Julander (via LINC), at a subscription price of 7.73 SEK per share, corresponding to the closing price on February 5, 2021. The reason for deviating from the preferential rights of shareholders in the directed issue is to strengthen the institutional shareholder base of the company and the proceeds will be used to accelerate the existing business plan of the company, mainly focused on development of MIV-818.
As part of the Directed Issue, the number of Medivir shares will increase from 52,135,651 Series B shares, including the shares issued under the rights issue and the over-allotment option, to 55 735,651 Series B shares, corresponding to a dilutive effect of approximately 6.5 percent of the total number of outstanding shares and votes of the Company. At the end of the directed issue, LINC will own shares of the company corresponding to approximately 10 percent of the total number of outstanding shares of the company.
Advisers
ABG Sundal Collier is the financial advisor and Vinge is legal advisor to Medivir in connection with the transaction.
For more information, please contact:
Yilmaz Mahshid, CEO
Telephone: +46 8 5468 3100
E-mail: [email protected]
Magnus christensen, CFO
Telephone: +46 8 5468 3100
E-mail: [email protected]
This information is information that Medivir AB (publ) is required to make public in accordance with the European Market Abuse Regulation. The information was submitted for publication, through the contact persons mentioned above, at 7:50 p.m. CET on February 7, 2021.
Medivir in brief
Medivir develops innovative drugs focused on cancer where unmet medical needs are high. Drug candidates are directed towards areas of indication where available therapies are limited or absent and where there are great opportunities to offer significant improvements to patients. Medivir is focused on the development of MIV-818, a prodrug designed to selectively treat liver cancer cells and to minimize side effects.
Collaborations and partnerships are important parts of Medivir’s business model, and drug development is led either by Medivir or in partnership. Birinapant, an SMAC mimetic, is exclusively licensed to IGM Biosciences (Nasdaq: IGMS) to be developed in combination with IGM antibodies for the treatment of solid tumors. Medivir stock (symbol: MVIR) is listed on the Small Cap list of Nasdaq Stockholm. www.medivir.com
Important information
The publication, publication or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where the press release has been made public or distributed should be aware of and comply with such legal restrictions. The recipient of this press release is responsible for the use of this press release and the information it contains in accordance with the rules applicable in each jurisdiction. This press release does not constitute an offer or a solicitation to buy or subscribe for securities of Medivir in any jurisdiction, whether from Medivir or any other person.
This press release is not a prospectus within the meaning of the definition in Regulation (EU) 2017/2019 (“the Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction.
This press release does not constitute an offer or a solicitation to purchase or subscribe for securities of the United States. The securities mentioned in this document may not be sold in the United States without registration, or without an exemption from registration, under the US Securities Act of 1933 (the “Securities Act”), and may not be offered or sold in the United States. -United without being registered, covered by an exemption or part of a transaction that is not subject to registration requirements under the Securities Act. There is no intention to register the securities referred to herein in the United States or to issue a public offering of such securities in the United States. The information contained in this press release may not be broadcast, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or any other jurisdiction where the disclosure, publication or distribution of such information would violate any applicable rules or where such action is subject to legal restrictions or would require additional registration or other measures beyond those resulting from Swedish law. Actions contrary to this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements relating to the company’s intentions, estimates or expectations regarding future results, financial condition, liquidity, development, prospects, estimated growth, strategies and opportunities as well as the markets in which the company is present. active. Forward-looking statements are statements which do not refer to historical facts and can be identified by the use of terms such as “believes”, “anticipates”, “anticipates”, “intends”, “estimates”, “will”. , may, “” implies “” should “,” could “and, in each case, their negative or comparable terminology. The forward-looking statements contained in this press release are based on various assumptions which, in many cases, are based on other assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will occur or that they are correct. As these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or results, for many different reasons, may differ materially from those stated in forward-looking statements. Due to these risks, uncertainties es, contingencies and other important factors, actual events may differ materially from expectations which are expressly or impliedly contained in this press release through forward-looking statements. The Company does not warrant that the assumptions on which the forward-looking statements in this press release are based are correct, and no reader of the press release should rely on any forward-looking statements contained in this press release. The forward-looking information, opinions and statements which are expressly or impliedly set forth herein are provided only as of the date of this press release and are subject to change. Neither the Company nor any other party will revise, update, confirm or publicly announce a revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, at- beyond what is required by law Nasdaq Stockholm rules for issuers.
Prospective investors should not place undue reliance on forward-looking statements contained in this document.
This information was provided to you by Cision http://news.cision.com
https://news.cision.com/medivir/r/medivir-proposes-directed-issue-of-approximately-sek-28-million-to-the-company-s-existing-specialist,c3281779
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