NeuroVive—SEK 35 m private placement complete, more information on forthcoming SEK 75.8 m rights issue
Neurovive Pharmaceutical (STO:NVP):
The private placement reported to the market on 20 November 2013 and approved by the Extraordinary General Meeting (EGM) on 13 December 2013 is now complete.
A total of 2,500,000 shares were subscribed at SEK 14 per share, which raises NeuroVive SEK 35 m before issue expenses. Due to the share issue, share capital has increased by SEK 125,000.
Waiving shareholders’ preferential rights, the shares in the private placement were subscribed by reputable Swedish institutional investors including pharmaceutical fund Rhenman & Partners, National Swedish pension fund AP2, other institutional investors, and Dr. Guo Weicheng, co-founder of Sihuan Pharmaceutical (NeuroVive’s collaboration partner in China).
IR portal launched for forthcoming rights issue
NeuroVive is also reporting that the company has launched an IR portal for the company’s forthcoming rights issue, with subscription period 13 January 2014 to 27 January 2014 inclusive. The portal, which is at www.irportalen.se/neurovive, will provide critical information, videos with key employees of the company and a facility for ordering prospectuses and booking a place at one of the following planned investor events:
· Gothenburg: Folkets Hus, 15 January 6:00 p.m., Olof Plames Plats 3
· Lund: Grand Hotell, 16 January, 6:00 p.m., Bantorget 1
· Stockholm: 7A Odenplan, 20 January, 6:00 p.m., Norrtullsgatan 6
· Conference call: 21 January, 5:00 p.m.
The forthcoming rights issue will provide existing shareholders with one subscription right per share, and four subscription rights confer entitlement to subscribe for one new share at the price of SEK 14 per share. The share issue will involve a maximum of 5,414,761 shares, which would raise the company some SEK 75.8 m before issue expenses. The record date for determining which shareholders are entitled to participate in this share issue cum rights is 8 January 2014. It is also possible to apply for allotment of shares without preferential rights.
Neurovive Pharmaceutical AB (publ), a leading mitochondrial medicine company, is developing a portfolio of products to treat acute cardiovascular and neurological conditions through mitochondrial protection. These medical conditions are characterized by a pressing medical need and have no approved pharmaceutical treatment options at present. NeuroVive’s products CicloMulsion® (heart attack) and NeuroSTAT® (traumatic brain injury) are currently being evaluated in phase III and phase II studies, respectively. NeuroVive’s research programs also include products for the treatment of anti-viral indications (Hepatitis B/C), brain cell injury in stroke patients, and drug candidates for cellular protection and treating mitochondria-related energy regulation diseases. NeuroVive’s shares are listed on NASDAQ OMX, Stockholm, Sweden.
Media and investor relations questions to:
Ingmar Rentzhog, Laika Consulting, Tel: +46 (0)46 275 6221 or email@example.com
Please also use the above contact if you wish to arrange an interview with NeuroVive’s CEO, Mikael Brönnegård.
NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 6220 (switchboard), Fax: +46 (0)46 888 8348
NeuroVive Pharmaceutical AB (publ) is obligated to publish the information contained in this news release in accordance with the Swedish Securities Market Act. This information was provided to the media for publication at 13:15 CEST on 18 December 2013.
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