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Shareholders in Moberg Pharma AB (publ) (reg. no. 556697-7426) (the “Company”) are hereby convened to the Extraordinary General Meeting on Friday, March 15, 2019 at 3.00 p.m. (CET) in the Company’s premises in Bromma, address Gustavslundsvägen 42, 5 tr, 167 51 Bromma (Alviks torg), Sweden.
MAJOR TRANSFORMATION OF THE COMPANY AFTER A STRONG YEAR This year-end report 2018 is made public in advance due to the transaction press release announced earlier today regarding the divestment of Moberg Pharma’s OTC-business.
STOCKHOLM, February 12th, 2019. Moberg Pharma AB (publ) (“Moberg Pharma” or the “Company”) (OMX: MOB) today announces that it has entered into agreement with a holding company owned by RoundTable Healthcare Partners and Signet Healthcare Partners (the “Purchaser”) to divest MPJ OTC AB and Moberg Pharma North America LLC, which at closing will hold Moberg Pharma’s entire OTC-business, for a cash consideration of USD 155 million (equivalent of SEK 1,431 million[1] ( adjusted for working capital, resulting in a capital gain of approximately SEK 500 million and multiples of 3.3x sales, as well as 14.1x EBITDA and 11.6x EBITDA for commercial operations. The Company intends to use the cash consideration to redeem its outstanding bonds and to distribute approximately SEK 43–45 per share to its shareholders. In addition, the Purchaser has undertaken to provide financing to the Company with a total amount USD 5 million (equivalent of SEK 46 million), of which half is subscription for newly issued series B shares in the Company, at a price of SEK 35.16 per share, and the remaining half is a loan to the Company with pertaining warrants. The combined value to Moberg Pharma’s shareholders of the transaction equals approximately SEK 78–80 per share, based upon the expected payment to shareholders and Purchaser’s subscription in the Company. The transaction enables Moberg Pharma to further focus resources on the MOB-015 pipeline program and distribute significant value to its shareholders. The transaction is among other things conditional upon shareholder approval at a general meeting in Moberg Pharma. [1] All equivalent amounts based on a preliminary USD/SEK exchange rate of 9.23. However, the Company will enter into a forward contract or a similar hedging arrangement, securing the exchange rate applicable to the Company per Closing to approximately 9.23.
STOCKHOLM, February 11th, 2019, Moberg Pharma AB (OMX: MOB) has signed an exclusive license agreement with Bayer for commercialization of MOB-015 in Europe. Under the agreement, Moberg Pharma is eligible to receive up to EUR 50 million contingent on development and commercial success, as well as supply fees including royalties.
STOCKHOLM, February 5th, 2019 - On February 12th 2019, at 08:00 am (CET), Moberg Pharma AB (OMX: MOB) will present its Year-end report 2018. Investors, analysts and journalists are hereby invited to participate in a teleconference at 03:00 pm (CET) on the same date.
STOCKHOLM, January 8th, 2019, Moberg Pharma AB (OMX: MOB) announces two additions to the Management team; Annica Magnusson, Senior Director Regulatory Affairs, and Gunilla Wengström, Senior Director Sales & Marketing, both with many years in the company.