AlzeCure Pharma AB (“AlzeCure” or “the Company”), a pharmaceutical company that develops a broad portfolio of small molecule drug candidates for diseases affecting the central nervous system, with projects in both Alzheimer’s disease and pain, today announced the final outcome of the rights issue with preferential rights for the shareholders (the “Rights Issue”) that ended on May 17, 2024. AlzeCure obtains SEK 39,2 million before issuing costs. Those who have been allocated shares without the support of subscription rights will be notified by contract note alternatively through their nominee.
The subscription period for the Rights Issue ended on May 17, 2024 and the final summary shows that 20 678 415 shares, corresponding to approximately 66.6 percent, were subscribed for by the exercise of subscription rights. In addition, the Company received interest from investors of subscribing an additional 2 364 046 shares without the support of subscription rights, corresponding to approximately 7,6 percent for a total subscription with and without the exercise of subscription rights of 74,2 percent. AlzeCure therefore obtains SEK 39,2 million before issue costs. With this outcome, the company has not had to use the bottom guarantee issued by Formue Nord Markedsneutral A/S.
Notification of allotment of shares subscribed for without exercising subscription rights will shortly be sent to those who have been allotted shares via contract note. Nominee shareholders receive notification of allotment in accordance with the respective nominee’s routines. Allocation of shares subscribed for without the exercise of subscription rights has been carried out in accordance with the principles stated in the prospectus that was published on April 29, 2024.
“We thank you for the continued support from our main shareholders and other existing shareholders, and also welcome new shareholders to AlzeCure. We also thank you for the trust in AlzeCure and our research, as well as the interest in continuing to support and take part in our world-leading research in Alzheimer’s and pain also in the future. Moreover, we are very grateful for and strengthened by the support and the progress made during 2023 and spring 2024.
With this new capital we will be able to drive the business development and projects forward. The focus is to drive continued development of the Alzstatin platform’s two candidates in order to identify a final potential clinical candidate and to continue to drive the TrkA-NAM program through the pre-clinical development phase towards the clinic. Furthermore, in the coming period, we plan to develop plans for phase II clinical studies for ACD856 in Alzheimer’s and for ACD440 against neuropathic pain. In parallel, we have a continued strong focus on business development with the goal of securing an out-licensing deal for one of our projects. We are looking forward to an eventful and productive 2024-2025 with our promising projects based on strong support from our existing and new owners,” says Martin Jönsson, CEO AlzeCure.
Share capital and number of shares
After the Rights Issue is registered with The Swedish Companies Registration Office the Company’s share capital will increase with SEK 576 061,5 to SEK 2 128 236,8. The number of shares will increase with 23 042 461 shares to 85 129 473 shares.
Trading in paid subscribed shares
Trading in paid subscribed shares (“BTA”) will take place on the Nasdaq First North Growth Market until the week after the Rights Issue has been registered with the Swedish Companies Registration Office. Registration of the Rights Issue is expected to take place during week 22.
Advisors
Zonda Partners AB is financial advisor and Synch Advokat AB is legal advisor to AlzeCure in connection with the Rights Issue.
For more information, please contact:
Martin Jönsson, CEO
Tel: +46 707 86 94 43
martin.jonsson@alzecurepharma.com
About AlzeCure Pharma AB (publ)
AlzeCure® is a Swedish pharmaceutical company that develops new innovative small molecule drug therapies for the treatment of severe diseases and conditions that affect the central nervous system, such as Alzheimer’s disease and pain – indications for which currently available treatment is very limited. The company is listed on Nasdaq First North Premier Growth Market and is developing several parallel drug candidates based on three research platforms: NeuroRestore®, Alzstatin® and Painless.
NeuroRestore consists of two symptomatic drug candidates where the unique mechanism of action allows for multiple indications, including Alzheimer’s disease, as well as cognitive disorders associated with traumatic brain injury, sleep apnea and Parkinson’s disease. The Alzstatin platform focuses on developing disease-modifying and preventive drug candidates for early treatment of Alzheimer’s disease and comprises two drug projects. Painless is the company’s research platform in the field of pain and contains two projects: ACD440, which is a drug candidate in the clinical development phase for the treatment of neuropathic pain, and TrkA-NAM, which targets other types of severe pain in conditions such as arthritis. AlzeCure aims to pursue its own projects through preclinical research and development through an early clinical phase and is continually working on business development to find suitable solutions for license agreements with other pharmaceutical companies.
FNCA Sweden AB is the company’s Certified Adviser. For more information, please visit www.alzecurepharma.se
Important information
The information in this press release neither contains nor constitutes an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in AlzeCure. No action has been taken and no action will be taken to permit an offer to the public in any jurisdictions other than Sweden. The invitation to interested persons to subscribe for shares in AlzeCure will only take place through the prospectus that AlzeCure published on December 1, 2022.
The information contained in this press release may not be disclosed, published or distributed, directly or indirectly, within or to the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, Russia, Belarus or any other jurisdiction where such action would be illegal, subject to legal restrictions or require measures other than those that follow from Swedish law. Actions contrary to this instruction may constitute a violation of applicable securities legislation. No shares or other securities of AlzeCure have been registered, and no shares or other securities will be registered, under the United States Securities Act of 1933 from time to time (“Securities Act”) or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or otherwise transferred, directly or indirectly, in or to the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and pursuant to the securities laws of the relevant state or other jurisdiction in the United States. This communication is distributed to and directed solely to persons in the United Kingdom who are (i) professional investors falling within the scope of Article 19(5) of the U.K. from time to time in force; Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“the Order”) or (ii) high net worth subjects and other persons to whom this notice may lawfully be addressed, who are subject to Article 49(2)(a)-(d) ) in the Order (all such persons are collectively referred to as “Relevant Persons”). Persons who are not Relevant Persons may not act on or rely on the information in this communication. An investment or investment measure referred to in this communication is only possible for Relevant Persons and will only be completed with Relevant Persons. Persons who disseminate this communication must themselves ensure that such dissemination is permitted.
Forward-looking statements
This press release contains forward-looking statements that refer to the Company’s intentions, assessments or expectations regarding the Company’s future results, financial position, liquidity, development, prospects, expected growth, strategies and opportunities as well as the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and can be identified by the inclusion of expressions such as “believes”, “expects”, “anticipates”, “intends”, “estimates”, “will”, “may”, “assumes”, “should” “could” and, in each case, negations thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will occur or that they are accurate. As these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actual result or outcome may, for many different reasons, differ materially from what appears in the forward-looking statements.
Such risks, uncertainties, contingencies, and other material factors may cause actual events to differ materially from the expectations expressed or implied in this press release through the forward-looking statements. The Company does not warrant that the assumptions underlying the forward-looking statements in this press release are correct and any reader of the press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements expressed or implied herein are provided only as of the date of this press release and are subject to change. Neither the Company nor anyone else undertakes to revise, update, confirm or publicly announce any revision of any forward-looking statement to reflect events occurring or circumstances occurring with respect to the contents of this press release, except as required by law or Nasdaq First.