Brief: Alzinova Resolves On Rights Issue Of Units Of SEK 42.5 Mln

Alzinova AB

19/04/2022 07:33

April 19 (Reuters) - Alzinova AB  ALZ.ST :
    * THE BOARD OF DIRECTORS RESOLVES ON A RIGHTS ISSUE OF UNITS
OF
APPROXIMATELY SEK 42.5 MILLION, PART OF THE ISSUE PROCEEDS IS
INTENDED TO FINANCE FURTHER DEVELOPMENT OF ALZ-201
    * SUBSCRIPTION PERIOD FOR RIGHTS ISSUE WILL RUN FROM AND
INCLUDING
30 MAY 2022 UP TO AND INCLUDING 13 JUNE 2022
    * RIGHTS ISSUE IS COVERED TO APPROXIMATELY 80 PERCENT
THROUGH
SUBSCRIPTION COMMITMENTS AND UNDERWRITING COMMITMENTS
    * SUBSCRIPTION PRICE PER UNIT AMOUNTS TO SEK 10.50
CORRESPONDING
TO SEK 2.10 PER SHARE ( WARRANTS ARE ISSUED FREE OF CHARGE).
    * UPON FULL SUBSCRIPTION IN RIGHTS ISSUE AND IF ALL WARRANTS
ARE
EXERCISED COMPANY CAN, ADDITIONALLY, RECEIVE AT MOST
APPROXIMATELY SEK 51.1 MILLION
    * ALZINOVA ALSO ANNOUNCES THAT, ABOVE COMPLETING NOW ONGOING
CLINICAL STUDY WITH ALZ-101, A PART OF ISSUE PROCEEDS FROM
RIGHTS ISSUE AND A PART OF PROCEEDS FROM EXERCISING WARRANTS
WILL BE USED TO CONTINUE DEVELOPMENT AND PREPARATION OF
COMPANY'S DRUG CANDIDATE ALZ-201 FOR PHASE 1 STUDY.

Source text for Eikon:  ID:nWkrbdXvt5 
Further company coverage:  ALZ.ST 

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