Hansa Medicals’ Board of Directors recommend AGM to issue new shares to raise SEK 29 million
• The subscription price is recommended to be set at SEK 5 per share, which at full subscription will raise SEK 29 million to Hansa Medical before issue expenses
• One existing share provides entitlement to three subscription rights and four subscription rights provides entitlement to subscription of one new share
• Hansa Medicals’ major shareholders Bo Håkansson via company and Mikael Lönn, intend to subscribe for their portion of the share issue, corresponding to 61% of the new shares
• The subscription period will run from May 26 to June 14, 2011
Background and motif
Hansa Medical is a biopharmaceutical development company focused on inflammation. The company develops innovative biopharmaceuticals and diagnostics in partnership with major companies with market presence as well as under full Hansa Medical management. At present, three primary product candidates are in development; IdeS, anti-alpha-11 and HMD-301. Novel research projects and product candidates are generated through academic collaborations and in-house development.
The motif for the recommended issue of new shares is to reach critical and value revealing development milestones within all major development programs. Hansa Medical intend to initiate Phase I clinical trials with the drug candidate IdeS, to reach registration and launch with the diagnostic product candidate HMD-301, identify an anti-alpha-11 drug candidate suitable for clinical trials and possibly, bring an additional novel and innovative discovery into development.
Preliminary time schedule for the share issue
May 16, 2011 Last day of trading in shares with rights to the rights issue
May 17, 2011 Publication of prospectus
May 19, 2011 Record day
May 26 – June 14, 2011 Subscription period
May 26 – June 9, 2011 Trading in subscription rights
June 17, 2011 Announcement of the outcome of the rights issue
Avanza Bank is financial adviser Fredersen Advokatbyrå is legal adviser to Hansa Medical.