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BioInvent - Rights issue

Redeye advised, structured and implemented the guarantee consortia in BioInvent´s rights issue announced 14 February 2012 amounting to SEK 105 mn. The rights issue is 100% guaranteed.

The Board of Directors of BioInvent has resolved, subject to the approval by the General Meeting, to conduct a new share issue with preferential rights for the shareholders of the company. The purpose of the rights issue is to strengthen BioInvent's financial position and thereby enable the fulfillment of the company's commercial strategy. Ten existing shares in BioInvent entitle to subscription for one new share. The subscription price is SEK 15.60 per share, corresponding to total issue proceeds of a maximum of approx. SEK 104,8 million, before transaction costs. The subscription period will be from 16 March up to and including 30 March 2012. The Board of Directors has simultaneously resolved to convene an Extraordinary General Meeting to be held on 9 March 2012 for the approval of the rights issue.

BioInvent International AB, listed on the NASDAQ OMX Stockholm, is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company currently has four clinical development projects within the areas of thrombosis, cancer and atherosclerosis. The Company has signed various strategic alliances to strengthen the product pipeline and increase the likelihood of success. These partners include Genentech, Human Genome Sciences, Roche and ThromboGenics.

For more information, contact:
Magnus Vestin, Director, Corporate Finance
+46 70 497 58 82
magnus.vestin@redeye.se
 
 
About Redeye
Redeye AB is a specialist investment banking boutique that focuses on small and mid-cap growth companies in the Nordic region. We focus on the IT, life sciences, media, betting, clean tech and commodities sectors. We provide services within Corporate Broking, Corporate Finance, equity research, investor relations and media services. Our strengths are our award-winning research and analysis department, experienced advisers, a unique investor network, and powerful distribution channel redeye.se. Redeye was founded in 1999 and since 2007 has been subject to the supervision of the Swedish Financial Supervisory Authority.
 

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