BIOTEC - EMISJON 5,25nok/aksje

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14.06.2018 kl 17:20 3035

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BIOTEC – SUCCESSFULLY COMPLETED PRIVATE PLACEMENT

Tromsø, Norway, 14 June 2018

Reference is made to the stock exchange announcement by Biotec Pharmacon ASA the ("Company", ticker "BIOTEC") on 14 June 2018 regarding a contemplated private placement of new shares directed towards new and existing Norwegian and international investors (the "Private Placement") by issuing up to 4,390,000 new shares each with a par value of NOK 1.00 (the "Offer Shares") representing approximately 10% of the issued share capital of the Company. The Company is pleased to announce that the Private Placement has been successfully completed, raising gross proceeds of NOK 23 million at a subscription price of NOK 5.25 per share (the "Subscription Price").
Completion of the Private Placement implies a deviation from the existing shareholders pre-emptive rights to subscribe for and be allocated new shares. The Board of Directors has carefully considered such deviation and has resolved that the Private Placement is in the best interests of the Company and its shareholders. In reaching this conclusion the Board of Directors has inter alia considered the limited discount to previous trading prices, the dilutive effect of the share issue, the investor interest in the transaction, the strengthening of the shareholder base that will be achieved by the Private Placement, the liquidity in the shares, the prevailing market conditions, transaction costs, transaction efficiency and completion risks. Based on the above, no subsequent "repair offering" is contemplated.

The share capital increase pertaining to the Private Placement was resolved by the Board of Directors pursuant to an authorisation granted by the Company’s Annual General Meeting held 7 May 2018.
Settlement of the allocated Offer Shares is expected to take place on a delivery versus payment basis on or about 19 June 2018. The Offer Shares allocated in the Private Placement will be tradable upon the registration of the share capital increase with the Norwegian Register of Business Enterprises (expected on or about 19 June 2018). In reliance of available exceptions, no listing prospectus will be issued in relation to the Private Placement.

Carnegie AS acted as bookrunner for the Private Placement. Wikborg Rein is legal counsel to the Company.

http://mb.cision.com/Main/1090/2549055/860687.pdf

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Tromsø, Norway, 14 June 2018

Biotec Pharmacon ASA (the "Company", ticker "BIOTEC") has retained Carnegie (the "Bookrunner") to advise on and effect a private placement of new shares directed towards existing and new Norwegian and international investors after the close of Oslo Stock Exchange today, 14 June 2018 (the "Private Placement"). In the Private Placement, the Company is offering up to 4,390,000 new shares each with a par value of NOK 1.00 (the "Offer Shares"), representing approximately 10% of the issued share capital of the Company.
The net proceeds from the Private Placement will be used to fund a number of exciting opportunities which can be developed into value creating businesses:

http://mb.cision.com/Main/1090/2548598/860539.pdf
Redigert 14.06.2018 kl 23:12 Arkivert