- Source : Press Release
- Date : 2018-06-29
- Companies : Camurus AB
Camurus Has Completed a Directed Share Issue of 1.1 Million Shares, Raising Proceeds of Approximately SEK 102 Million
Camurus AB (publ) (“Camurus” or the “Company”) (Nasdaq Stockholm, CAMX) is pleased to announce the completion of a directed share issue of approximately SEK 102 million.
The board of directors of Camurus has, based on the authorization granted by the annual general meeting on 3 May 2018, resolved on a directed share issue of 1,100,000 new shares at a subscription price of SEK 93 per share (the “Issue”), which means that the Company receives approx. SEK 102 million before transaction costs. The subscription price in the Issue has been determined through an accelerated bookbuilding procedure.
The purpose of the issue is to contribute to the development of new clinical drug candidates, products and/or supporting technologies, and prepare marketing and sales for CAM2038 in opioid dependence on markets outside of Europe. During the second half of 2018, Camurus expects marketing approvals for CAM2038 in Europe, the US and Australia. Near term, the Company will continue to invest in launch and marketing preparations in EU and Australia, as well as seeking to capitalize on the significant opportunities that it sees in the pain indication for CAM2038, acromegaly and neuroendocrine tumors for CAM2029, and pulmonary arterial hypertension for CAM2043. The reasons for the deviation from the shareholders’ preferential rights are to raise capital in a time and cost-effective manner.
The Issue entails a dilution of approximately 2.9 percent of the share capital in relation to the number of shares in Camurus after the Issue, through an increase in the number of outstanding shares by 1,100,000 from 37,281,486 to 38,381,486 and a share capital increase by SEK 27,500 from SEK 932,037 to SEK 959,537.
In connection with the Issue, the Company has agreed to a lock-up undertaking, with customary exceptions, on future share issuances for a period of 120 calendar days after the settlement date. In addition, in connection with the Issue, Sandberg Development AB, currently holding 53.7 percent of the shares in Camurus, the Board of Directors of Camurus and Senior Management of Camurus have agreed not to sell any shares in Camurus for a period of 90 calendar days after the settlement date, subject to customary exceptions.
Carnegie Investment Bank AB and Jefferies International acted as joint bookrunners in connection with the Issue. Mannheimer Swartling acted as legal adviser to Camurus, and Ashurst and Gernandt & Danielsson acted as legal advisers to the joint bookrunners.
Camurus is a Swedish research-based pharmaceutical company committed to developing and commercialising innovative and differentiated medicines for the treatment of severe and chronic conditions. New drug products with best-in-class potential are conceived based on the proprietary FluidCrystal® drug delivery technologies and an extensive R&D expertise. Camurus’ clinical pipeline includes products for treatment of cancer, endocrine diseases, pain and addiction, developed in-house and in collaboration with international pharmaceutical companies. The company’s shares are listed on Nasdaq Stockholm under the ticker “CAMX”. For more information, visit www.camurus.com.
Any investment in the shares of Camurus involves risks. The Company has today updated its investor relations website to include a set of risk factors relevant to investors in the Company.