Moberg Pharma resolves on a directed issue of ordinary shares to guarantors in connection with the completed rights issue
STOCKHOLM, 8 June 2022. The Board of Directors of Moberg Pharma AB (publ) (OMX: MOB) (“Moberg Pharma” or the “Company”) has today resolved on a directed new issue of 536,952 ordinary shares to the guarantors in the rights issue of ordinary shares resolved upon by the Board of Directors on 8 April 2022 and approved by the Extraordinary General Meeting on 3 May 2022 (the “Rights Issue”) who have chosen to receive their guarantee commission in the form of newly issued ordinary shares in Moberg Pharma (the "Remuneration Issue"). The subscription price in the Remuneration Issue corresponds to the subscription price in the Rights Issue, SEK 2.30 per ordinary share, and payment is made by set-off of claims.
As communicated in connection with the Rights Issue, the guarantors, in accordance with the issue guarantee agreements entered into, had the option of receiving their guarantee commission in the form of cash corresponding to eleven (11) percent of the amount guaranteed or in the form of newly issued ordinary shares corresponding to thirteen (13) percent of the amount guaranteed. A number of guarantors have chosen to receive their guarantee commission in the form of newly issued ordinary shares in the Company. Due to this, Moberg Pharma's Board of Directors has today resolved on a directed new issue of a total of 536 952 ordinary shares to these guarantors.
The reasons for the deviation from the shareholders' preferential rights in the Remuneration Issue are to fulfil the Company's obligations under the issue guarantee agreements.
Payment shall be made through set-off of claims against the Company, which consists of the guarantors guarantee commission. The subscription price has been set at SEK 2.30 per ordinary share, which corresponds to the subscription price in the Rights Issue. Through the Remuneration Issue, the total number of shares in Moberg Pharma increases by 536,952 shares to a total of 100,859,335 shares and the share capital increases by SEK 53,695.20 to a total of SEK 10,085,933.50 (based on the number of outstanding shares and the share capital in the Company after the Rights Issue and the issue of 1,125,000 C-shares (which are immediately converted into ordinary shares) within the scope of LTI 2022). The dilution effect as a result of the Remuneration Issue amounts to 0.53 percent (based on the number of outstanding shares in the Company after the Rights Issue, the issue of 1,125,000 C-shares (which are immediately converted into ordinary shares) within the scope of LTI 2022 and the Remuneration Issue).
Advisors
Vator Securities is financial advisor and Advokatfirman Schjødt is legal advisor to Moberg Pharma in connection with the Rights Issue.
For additional information, please contact:
Anna Ljung, CEO, telephone: +46 70 - 766 60 30, e-mail: anna.ljung@mobergpharma.se
Mark Beveridge, VP Finance, telephone: +46 768 05 82 88, e-mail: mark.beveridge@mobergpharma.se
About this information
The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CEST on 8 June 2022.
About Moberg Pharma, www.mobergpharma.se
Moberg Pharma AB (publ) is a Swedish pharmaceutical company focused on commercializing proprietary innovations based on drug delivery of proven compounds. The Company’s main asset, MOB-015, is a novel topical treatment for onychomycosis. Data from phase 3 clinical trials in more than 800 patients for MOB-015 indicate that the product has the potential to become the future market leader in onychomycosis. Moberg Pharma has agreements with commercial partners in place in Europe and Japan, among others, and the Company's goal is to receive its first market approval and launch MOB-015 in 2023. Moberg Pharma is headquartered in Stockholm and the Company’s shares are listed on the Small Cap list of the Nasdaq Stockholm (OMX: MOB).