Oncopeptides publishes final outcome in the fully guaranteed rights issue
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Oncopeptides AB (publ) (“Oncopeptides” or the “Company”) hereby announces the final outcome of the fully guaranteed rights issue of approximately SEK 314 million before deduction of costs related to the rights issue (the “Rights Issue”). The subscription period in the Rights Issue ended on 3 May 2024. The final outcome shows that 98,415,644 ordinary shares, corresponding to approximately 82 percent of the offered ordinary shares, have been subscribed for by exercise of subscription rights in the Rights Issue. Additionally, applications for subscription of 14,909,424 ordinary shares without subscription rights, corresponding to approximately 12 percent of the offered ordinary shares, have been submitted. Together, subscriptions by exercise of subscription rights and application for subscriptions without subscription rights correspond to approximately 94 percent of the offered ordinary shares in the Rights Issue. Thus, guarantee commitments of 7,261,101 ordinary shares, corresponding to approximately 6 percent of the offered ordinary shares, will be utilised. The Rights Issue will provide the Company with approximately SEK 314 million before deduction of transaction costs related to the Rights Issue.
The Rights Issue encompassed 120,586,169 new ordinary shares, of which 98,415,644 ordinary shares, corresponding to approximately 82 percent of the offered ordinary shares, have been subscribed for by exercise of subscription rights. Additionally, applications for subscription of 14,909,424 ordinary shares without subscription rights have been submitted, corresponding to approximately 12 percent of the offered ordinary shares. Thus, guarantee commitments of 7,261,101 ordinary shares, corresponding to approximately 6 percent of the offered ordinary shares, will be utilised. The subscription price was SEK 2.60 per new ordinary share. Through the Rights Issue, the share capital will be increased by approximately SEK 13,398,463.77, from approximately SEK 10,511,120.09 to approximately SEK 23,909,583.86, by a new issue of 120,586,169 new ordinary shares, resulting in the total number of shares increasing from 94,600,077 shares to 215,186,246 shares[1].
Allotment of shares subscribed for without subscription rights will be made in accordance with the principles outlined in the prospectus regarding the Rights Issue that was published by Oncopeptides on 17 April 2024. Around 7 May 2024, a settlement note will be sent to those who have received allotment of shares as confirmation of the allotment of shares subscribed for without subscription rights. No confirmation will be sent to subscribers who received no allotment. Payment for subscribed and allocated shares is to be made in cash in accordance with the instructions on the settlement note sent to those who have received allotment of shares. Nominee-registered shareholders will receive a notification of allotment in accordance with the respective nominee's procedures.
The last day for trading in paid subscribed shares (BTA) will be on 13 May 2024. The first day of trading in the new shares on Nasdaq Stockholm is expected to be on or around 17 May 2024.
Lock-up undertakings
In connection with the Rights Issue, the Company has agreed to a lock-up undertaking, subject to customary exceptions, whereby the Company’s Board of Directors may not propose or resolve on any new share issuances for a period of 180 calendar days after the announcement of the outcome of the Rights Issue, provided, however, that the Company shall have the right to issue and transfer warrants to the European Investment Bank - EIB (in accordance with the agreement prior entered into between the Company and EIB). In addition, the members of the Board of Directors and shareholding senior executives of the Company have agreed not to sell any shares in Oncopeptides for a period of 180 calendar days after the announcement of the outcome of the Rights Issue, subject to customary exceptions.
Advisors
Carnegie Investment Bank AB (publ), DNB Markets, a part of DNB Bank ASA, Sweden Branch and Zonda Partners AB acted as Joint Bookrunners in connection with the Rights Issue. Advokatfirman Vinge KB was legal adviser to the Company and Baker & McKenzie Advokatbyrå KB was legal adviser to the Joint Bookrunners in connection with the Rights Issue.
[1] Oncopeptides holds 4,160,450 class C shares, which did not entitle to participation in the Rights Issue.