Press release
2017-05-24
The board of directors of Xbrane Biopharma AB (“Xbrane” or the “Company”) has today, with the support of the mandate given by the annual general meeting on 18 may 2017, decided to issue a total of 655 738 new shares in the Xbrane.
The rights issue is implemented as a directed issue to Active Invest-Sweden AB, Thomas Eklund, Zirkona AB and Quantify AB Shares will be issued at a subscription price of 30,50 $ per share, which means that the Company receives SEK 20 million before issue costs. The subscription price was set based on the Xbrane-share market price on Nasdaq First North, and represents a discount of approximately 7.5% against the closing price on 23 may 2017.
The capital injection will strengthen the Company’s financial position, thereby ensuring the continued development and value growth in the project portfolio. The capital injection shall be used to initiate the development of new product candidates and to ensure the continued development of the Company’s main products, Spherotide and Xlucane.
The board of directors considers it to be advantageous to the Company and the shareholders to broaden the ownership base with branscherfarna investors, and increase the prospects for better liquidity in the Company’s shares and maintain the possibility to on for the Xbrane attractive conditions to contribute new capital to the Company. The board of directors considers overall that the rights issue, which on the basis of the above takes place with deviation from the shareholders ‘ preferential rights, to contribute to creating value for all the Company’s investors.
“We are very proud of the confidence that this group of reputable investors place in us and look forward to using the new capital to further develop our promising portfolio of projects.”, says Martin Åmark, Xbrane’s CEO.
Through the rights issue increases the number of shares in the Xbrane with 655 738 4 755 546 5 411 284 and the share capital will increase by approximately 147 007 $ from approximately 1 066 127 SEC to approximately 1 213 134$.
Carnegie Investment Bank AB (publ) have acted financial adviser in the transaction. Baker McKenzie is the legal advisor to the Xbrane.
For further information, please contact:
Martin Åmark, CEO, Xbrane Biopharma AB
M: +46 (0) 763-093 777
E: martin.amark@xbrane.com
About Xbrane
Xbrane Biopharma is a biotechnology company in the commercial phase, which develops and manufactures biosimilar medicinal products and the long-acting injectables. Xbrane has world-leading expertise in the development of long acting injectables, and a patented proteinproduktionsplattform for the development of biosimilar medicinal products. Xbranes head office is in Stockholm and the company has research and development facilities take in Sweden and Italy. Xbrane is listed on Nasdaq First North since 3 February 2016 under the ticker symbol XBRANE and Avanza Bank AB is Xbranes certified advisor. For more information please visit
www.xbrane.com
.
The information in this press release is such that Xbrane Biopharma AB is obliged to publish under the EU marknadsmissbruksförordning (EU) no 596/2014. The information was submitted, by the above contact person in the government, for publication on 24 2017 there is a 8:00.
Press release – Xbrane conducting a directed new share issue
