LIDDS completes a direct share issue raising SEK 9.0 million
The board of directors of LIDDS AB has decided to carry out a directed issue of 562,500 shares at a subscription price of SEK 16 per share. LIDDS will through the directed share issue receive proceeds amounting to SEK 9.0 million, before transaction costs.
The board of directors of LIDDS has, based on the authorization given by the annual general meeting on May 16, 2019, decided to carry out a directed issue of 562.500 shares to new and current investors.
The subscription price in the Directed Share Issue is set to SEK 16,00 and has been determined by volume weighted average price during the last 20 business days with a discount of 5%. Through the Directed Share Issue, LIDDS will raise SEK 9.0 million before transaction costs. The Directed Share Issue entails a dilution of approximately 2.4 percent of the number of shares and the votes in the Company. Through the Directed Share Issue, the number of outstanding shares and votes will increase by 562,500 shares from 23,692,388 shares to 24,254,888 shares. The share capital will increase by SEK 29,812.50 from SEK 1,255,696.56 to SEK 1,285,509.07.
The reason for the deviation from the shareholders’ preferential rights, is to strengthen the shareholder base and to finance LIDDS’ exciting development projects. The Directed Share Issue will primarily be used to finance the NZ-TLR9 immuno-oncology project which includes an upcoming Phase I clinical trial.
Subscribers in the Directed Share Issue are new shareholders and existing shareholders.
For additional information, please contact:
Monica Wallter, CEO, LIDDS +46 (0)737 07 09 22 firstname.lastname@example.org
This information is such that LIDDS 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, at 08:30 CET on November 15, 2019.
LIDDS AB (publ) is a Swedish-based pharmaceutical company with a unique drug delivery technology NanoZolid®. NanoZolid® is a clinically validated drug development technology and superior in its ability to provide a controlled and sustained release of active drug substances for up to six months. LIDDS has licensing agreements where NanoZolid is combined with antiandrogens and in-house development projects in clinical and preclinical phase for cytostatics and immunoactive agents. LIDDS (LIDDS) shares are listed on Nasdaq First North Growth Market. Redeye AB, email@example.com, +46 (0)8 121 576 90, is a certified adviser to LIDDS. For more information, please visit www.liddspharma.com.