Calliditas has Resolved on a Directed Share Issue in the Amount of 3.5 Million Shares, Raising Proceeds of Approximately SEK 210 Million

STOCKHOLM, July 3, 2019 NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE IN ACCORDANCE WITH APPLICABLE LAW.

/PRNewswire/ -- Calliditas Therapeutics AB (publ) ("Calliditas" or the "Company"), a specialty pharmaceutical company focused on the development of high quality pharmaceutical products within niche indications, today announced, in accordance with the Company's press release on July 2, 2019, the closing of a directed share issue consisting of 3,505,291 shares at a price of SEK 60 per share (the "Issue"). The Issue will raise proceeds to the Company of approximately SEK 210 million before transaction costs. The subscription price in the Issue has been determined through a so-called "accelerated book-building" procedure. The Issue was significantly oversubscribed due to high demand from Swedish and international institutional investors, including BVF Partners L.P. ("BVF").

In connection with the Issue, some of the Company's larger shareholders - Stiftelsen Industrifonden ("Industrifonden"), Investinor AS ("Investinor") and Bengt Julander (jointly "the Major shareholders") - sold 1,494,709 shares. Bengt Julander did not sell any shares in the Company through Linc AB, where a majority of the holding is registered, and has expressed its intention to remain a long-term owner in the Company. The sale was made at the same price as the subscription price in the Issue.

The transaction in brief

The Board of Directors of Calliditas has, in accordance with the issue authorization granted by the Annual General Meeting on May 8, 2019, and as indicated in the Company's press release on July 2, 2019, resolved on a directed share issue of 3,505,291 new shares at a subscription price of SEK 60 per share, consequently raising gross proceeds of approximately SEK 210 million. The subscription price in the Issue has been determined through an accelerated bookbuilding procedure why the Board of Directors' assessment is that the subscription price is in accordance with market conditions. The reasons for the deviation from the shareholders' preferential rights are to raise capital for the development of ongoing projects in a time and cost-effective manner. Moreover, the Company will further diversify the shareholder base with Swedish and international institutional investors and sector specialist investors through the Issue. BVF acquired approximately 1.9 million shares in the transaction.