Navamedic to own a total of 96.33 per cent of shares in Sensidose following closing of public offer
OSLO, Norway, May 26, 2023 /PRNewswire/ -- Following the closing of the acceptance period in the previously announced public offer, Navamedic ASA (OSE: NAVA), a Nordic pharma company and reliable provider of high-quality products to hospitals and pharmacies, will become the owner of 96.33 per cent of the share capital and votes and 93.16 per cent of the series TO 1 warrants ("Warrants") in Sensidose Aktiebolag ("Sensidose).
This is an important milestone in Navamedic's plan to acquire all outstanding shares and include Sensidose's product offering in its well proven and highly scalable market access platform for healthcare products. Navamedic now plans to initiate a compulsory acquisition of the remaining shares in Sensidose, and to promote a delisting of the Sensidose shares and Warrants from the Spotlight Stock Market in Sweden.
"We are excited by the prospect of becoming the owner of Sensidose. Our next step will be to add Sensidose's unique Parkinson's treatment to our existing marketing and distribution channels and rapidly ramp up commercialisation efforts in the Nordics.
We have previously proven our ability to quickly improve product sales through our agile platform and know-how in the markets where we operate and have already mapped out several opportunities to increase the sales of Sensidose's treatment in some of our core markets.
Moving forward, we look forward to cooperating closely with Sensidose and its highly skilled team to ensure long-term success," said Kathrine Gamborg Andreassen, CEO of Navamedic.
As of the end of the acceptance period, 25 May 2023, shareholders owning 4,715,283 shares and 1,560,445 Warrants had tendered their shares and Warrants, corresponding to approximately 39.43 per cent of the share capital and votes and approximately 68.89 per cent of the Warrants in Sensidose respectively. Navamedic already holds 56.90 per cent of the outstanding shares and 24.27 per cent of the Warrants in the company.
The settlement of the shares and Warrants tendered in the offer is expected to commence on or around 1 June 2023.
Sensidose is a Sweden-based pharmaceutical company that sells drugs in combination with an innovative device for individual dosing for patients with advanced Parkinson's disease. Approximately 270 patients are being treated with Sensidose's medicine in Sweden, Norway and Denmark. Sensidose has already received market approval in market approval in eight additional countries, including Finland, whereby the company has been granted reimbursement.
For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 680
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
About Navamedic ASA
Navamedic ASA is a Nordic pharma company and reliable provider of high-quality products, delivered to hospitals and through pharmacies, meeting the specific needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA). For more information, please visit www.navamedic.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The information was submitted for publication by CFO Lars Hjarrand on 26 May 2023 at 08.00 (CEST).