Press release
2017-05-24
Today, the Board of Directors of Xbrane Biopharma AB (“Xbrane” or the “Company”), with authorization granted by the annual general meeting held on 18 May 2017, decided to issue a total of 655,738 new shares in Xbrane.
The new share issue is conducted as a directed issue to Active Invest-Sweden AB, Thomas Eklund, Zirkona AB and Quantify AB. The shares are issued at a subscription price of SEK 30.50 per share, which means that the Company will receive SEK 20 million before transaction costs. The subscription price was determined based on the market price of the Xbrane share on Nasdaq First North and corresponds to a discount of approximately 7.5 percent to the closing price on May 23 2017.
The capital contribution strengthens the Company’s financial position, thereby ensuring continued development and value growth in the project portfolio. The capital will 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 beneficial for the Company and its shareholders to broaden the ownership base with sector-knowledgeable investors, and improve the conditions for liquidity in the Company’s shares, and take advantage of the opportunity to inject new capital into the Company on attractive terms for Xbrane. The Board of Directors believes that the new share issue, which, due to the above, deviates from existing shareholders’ preferential rights, contributes to creating value for all of the Company’s investors.
“We are very proud of the confidence that this group of reputable investors have in us and look forward to with the new capital further develop our promising product portfolio.” says Martin Åmark, Xbrane’s CEO.
Through the new share issue, the number of shares in Xbrane increases by 655,738 from 4,755,546 to 5,411,284 and the share capital increases by approximately SEK 147,007 from approximately SEK 1,066,127 to approximately SEK 1,213,134.
Carnegie Investment Bank AB (publ) acted as financial adviser in the transaction. Baker McKenzie is legal advisor to 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 is a commercial phase Swedish biopharmaceutical company specialized in biosimilars and long acting injectables. Xbrane has world leading expertise in developing generics for long acting injectable drugs and proprietary high-yield protein expression technology for the development of biosimilars. Xbranes’s headquarter is located in Stockholm and the company’s in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3rd, 2016 under the name XBRANE and Avanza Bank AB is Xbrane’s certified advisor. For more information see www.xbrane.com.
This information is information that Xbrane Biopharma AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 May 24 2017.
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