Nordic Nanovector ASA - Resolution not to Proceed With a Repair Offering
OSLO, Norway, Oct. 24, 2019 /PRNewswire/ -- Reference is made to the stock exchange announcement on 18 October 2019 where Nordic Nanovector ASA (OSE: NANO) (the "Company") announced the successful completion of a private placement raising gross proceeds of NOK 242,525,624 (the "Private Placement") and that the board of directors would consider to carry out a repair offering of up to 2,204,778 new shares (the "Repair Offering").
The Company has decided not to proceed with the Repair Offering. Since announcement of completion of the Private Placement on 18 October 2019, the Company's shares have traded on the Oslo Stock Exchange, with sufficient trading volume, at prices close to or below the subscription price in the Private Placement of NOK 22. Accordingly, any shareholders wishing to neutralize the dilutive effect of the Private Placement have had the opportunity to purchase shares in the Company in the market, at prices close to or below what would have been the subscription price in a Repair Offering. In light of this, the Company has resolved not to proceed with a Repair Offering that would have resulted in considerable preparation costs for the Company.
For further information, please contact:
Malene Brondberg, VP Investor Relations and Corporate Communications
Cell: +44 7561 431 762
Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers. Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting antibody-radionuclide-conjugate designed to advance the treatment of non-Hodgkin's lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 29 billion by 2026. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets. Further information can be found at www.nordicnanovector.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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SOURCE Nordic Nanovector
Company Codes: Bloomberg:NANO@NO, ISIN:NO0010597883, Oslo:NANO, RICS:NANO.OL