Private placement to Omega Funds in parallel to offering a fully guaranteed rights issue

The Board of Directors of BioInvent has resolved on a directed share issue (private placement) and a fully guaranteed rights issue totaling MSEK 234. The financing enables continued value creation in the Company’s prioritized development projects in the coming years. The rights issue is subject to approval by an Extraordinary General Meeting on 18 March 2016.

Summary of principal terms

  • The board of directors in BioInvent has resolved to implement a capitalization of MSEK 234, consisting of a rights issue of MSEK 191 and a directed issue of MSEK 43.
  • The directed issue includes 22,051,282 shares issued at a price of SEK 1.95 per share. The directed issue is subscribed by Omega Fund IV, a global healthcare focused fund advised by Omega Fund Management LLC (“Omega Funds”).
  • In the terms of the rights issue, three (3) new shares are issued for every five (5) existing shares in the Company resulting in a maximum of 97,751,376 shares being issued at the price of SEK 1.95 per share.
  • The rights issue is subject to approval by an Extraordinary General Meeting on 18 March 2016, notice to the General Meeting is published in a separate press release.
  • The rights issue is fully secured through guarantee undertakings from a number of well renowned investors for the total amount of the rights issue.
  • Record day for the rights issue is on 22 March 2016.
  • The subscription period in the rights issue is between 29 March and 12 April 2016.
  • Due to the equity issues, the 2016 Annual General Meeting in BioInvent will be postponed to 12 May 2016.

Timetable for the rights issue

18 March Extraordinary General Meeting
18 March Last day of trading inclusive subscription rights
21 March First day of trading exclusive subscription rights
22 March Record date for participation in the rights issue, i.e. shareholders who are registered in the Company’s share register as of this day will receive subscription rights for participation in the rights issue
23 March Estimated date for publication of the prospectus
29 March - 8 April Trading in subscription rights
29 March - 12 April Subscription period
Around 18 April Announcement of the preliminary outcome of the rights issue

 

Press releases

16 February 2016 BioInvent issues private placement to US-based healthcare investor Omega Funds in parallel to offering a fully guaranteed rights issue
17 February 2016 Notice of Extraordinary General Meeting in BioInvent International AB
18 March 2016 Resolutions of the Extraordinary General Meeting of BioInvent
23 March 2016 Annual Report 2015
23 March 2016 BioInvent publishes prospectus

 

Prospectus (Swedish)

2016 Prospectus cover.pngDownload (1.9Mb)

 

Download: Special application form (Swedish)
Download: Application form for subscription of shares without subscription rights (Swedish)