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 outcome of the rights issue with preferential rights for the shareholders (the “Rights Issue”) that ended on March 22, 2022. The subscription breakdown show that approximately 59.4 percent was subscribed with and without the exercise of subscription rights. Consequently underwriters of the Rights Issue will be allocated approximately 20.8 percent of the Rights Issue thus resulting in that AlzeCure obtains SEK 48.5 million before issue 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 March 22, 2022 and the summary shows that 8,654,688 shares, corresponding to approximately 57.3 percent, were subscribed for by the exercise of subscription rights. In addition, the Company received interest from investors of subscribing an additional 324,629 shares without the support of subscription rights, corresponding to approximately 2.1 percent for a total subscription with and without the exercise of subscription rights of 59.4 percent. Consequently underwriters of the Rights Issue will be allocated 20.8 percent of the Rights Issue thus resulting in that AlzeCure obtains SEK 48.5 million before issue costs. 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 March 4, 2022.
“Despite an uncertain and turbulent surrounding world, both our current and new shareholders have joined this financing round. The capital injection provides AlzeCure with the necessary funds to carry out the highly interesting clinical phase II study for ACD440 as well as to continue to advance the ongoing Alzheimer projects, all of which have potential of substantial value contribution to our shareholders. We look forward to wholeheartedly devote our aggregate resources to continued progress in our three research platforms”, 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 303,064.50 to SEK 1,247,207.375. The number of shares will increase with 12,122,580 shares to 49,888,295 shares.
Trading in BTA
Trading in paid subscribed shares (“BTA”) will take place on 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 15, 2022.
Advisors
Erik Penser Bank AB is financial advisor and Synch Advokat AB is legal advisor to AlzeCure in connection with the Rights Issue.