Brief: Nordic Nanovector Launches A Private Placement Of New Shares

Thor Medical ASA

23/09/2020 15:35

Sept 23 (Reuters) - Nordic Nanovector ASA  NORN.OL :
    * NORDIC NANOVECTOR LAUNCHES A PRIVATE PLACEMENT OF NEW
SHARES
    * TO USE NET PROCEEDS FROM PRIVATE PLACEMENT FOR FURTHER
PROGRESS
PIVOTAL PARADIGME PHASE 2B TRIAL WITH BETALUTIN
    * PROCEEDS FROM PRIVATE PLACEMENT IS EXPECTED TO EXTEND
COMPANY'S
CASH RUNWAY INTO Q3 2021, WITH AN ESTIMATED BURN RATE OF NOK 30
- 40 MILLION PER MONTH THEREAFTER
    * TO USE NET PROCEEDS FOR CONDUCT PHARMACOKINETICS  STUDIES
AND
EXECUTE CMC ACTIVITIES REQUIRED FOR PLANNED BLA  FILING.
    * THERE WILL BE A NEED TO SECURE FURTHER FINANCING, THROUGH
EQUITY, DEBT AND/OR PARTNERSHIPS, NO LATER THAN DURING H1 2021
    * MINIMUM SUBSCRIPTION AND ALLOCATION AMOUNT IN PRIVATE
PLACEMENT
WILL BE NOK EQUIVALENT OF EUR 100,000,
    * LAUNCH OF A PRIVATE PLACEMENT OF NEW SHARES REPRESENTING
UP TO
ABOUT 20% OF OUTSTANDING SHARE CAPITAL OF COMPANY AT THIS DATE

Source text for Eikon:  ID:nWkr4sv9KH 
Further company coverage:  NORN.OL 

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