Brief: Active Biotech to raise SEK 55 mln via rights issue
14/11/2016 06:28
Nov 14 (Reuters) - Active Biotech Ab ACTI.ST
* Active biotech carries out rights issue of approximately
55 million Swedish crowns ($6.03 million)
* Says subscription price amounts to 8 crowns per share
* Says shareholders of the company have pre-emptive rights
to subscribe for the new shares, whereby 13 existing shares
entitle to subscription for one new share. Subscription for
shares in the rights issue can only be made with
pre-emptive rights
* Subscription shall be made during the period 23 November -
7 December 2016
* Says rights issue is at no cost guaranteed in its entirety
by Active Biotech's largest shareholder MGA Holding AB
* The rights issue that now is conducted aims at providing
Active Biotech with the financial stability required to await
the outcome of the ongoing phase 3 study of laquinimod for the
treatment of RRMS and the phase 2 study for the
treatment of PPMS
* If the outcome of these studies is positive, the Company
expects that a positive operating result can be achieved from
and including the financial year 2018
* Says proceeds from the rights issue, approximately SEK 55
million at full subscription, are intended to be used mainly for
general working capital requirements
Source text for Eikon: ID:nGNE8F3ztX
Further company coverage: ACTI.ST
($1 = 9.1266 Swedish crowns)
(Reporting by Stockholm Newsroom)
((stockholm.newsroom@thomsonreuters.com; +46-(0)8-700 10 17;))