The private placement, which was announced on July 2, 2014, has enabled Oasmia to place 2,500,000 new shares with international institutional investors and qualified investors in Sweden at a price of SEK 20 per share through an accelerated book building procedure.
The Company intends to use the proceeds from the private placement to strengthen the working capital as well as finance the continued operations and further development of additional human and veterinary products based on the XR-17 technology.
In order to enable the private placement, the Board of Directors of Oasmia has, pursuant to the authorization granted by the annual general meeting held on September 30, 2013, resolved on a directed issue of 2,500,000 new shares. The reason for deviating from the shareholders’ preferential rights by conducting a directed new share issue is to broaden the shareholder base, and that the costs and timing of the procedure collectively, and with sufficient strength, indicate that it is in the Company’s, and thus the shareholders’, interest that the issue is made with deviation from the shareholders’ preferential rights.
Through the issue, the number of shares in Oasmia increases by 2,500,000 from 85,572,330 to 88,072,330 and the share capital increases by SEK 250,000 from SEK 8,557,233 to SEK 8,807,233. The new issue results in an equity dilution of approximately 3 percent after the issue is completed. A large existing shareholder has undertaken to temporarily lend the number of shares required to facilitate prompt delivery of the new shares.
Carnegie Investment Bank AB (publ) is acting as financial advisor and sole bookrunner.
The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published on July 3, 2014 at 08.00 am CET.
About Oasmia
Oasmia develops new generations of drugs in the field of human and veterinary oncology. The Company’s product development aims to develop novel nanoparticle formulations and drug-delivery systems based on well-established cytostatics which, in comparison with current alternatives, show improved properties, reduced side-effects, and expanded applications. The Company’s product development is based on its proprietary in-house research and company patents. Oasmia’s shares, ISIN SE0000722365, are listed on NASDAQ OMX Stockholm (OASM) and the Frankfurt Stock Exchange (OMAX).
IMPORTANT INFORMATION
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