Nordic Nanovector - Private Placement Successfully Completed

OSLO, Norway, Oct. 18, 2019 /PRNewswire/ -- Reference is made to the stock exchange release from Nordic Nanovector ASA (OSE: NANO) ("Nordic Nanovector" or the "Company"), a biopharmaceutical company dedicated to extending and improving the lives of patients with haematological cancers through the development and commercialisation of innovative targeted therapeutics, published on 17 October 2019 regarding the contemplated private placement of new shares in the Company.

The Company announces today that it has raised NOK 242,525,624 (equivalent to approximately USD 26.4 million) in gross proceeds through a private placement (the "Private Placement") of 11,023,892 new shares (the "New Shares"). The Private Placement was completed at a subscription price of NOK 22.00 per share, which was determined through an accelerated book-building process.

DNB Markets and Jefferies International Limited acted as joint global coordinators and joint bookrunners (the "Joint Global Coordinators"), and ABG Sundal Collier ASA acted as joint bookrunner (together with the Joint Global Coordinators, the "Managers") in connection with the Private Placement. The Private Placement, which was oversubscribed, attracted strong interest from both existing shareholders and new institutional investors, Norwegian as well as international.

Nordic Nanovector intends to use the net proceeds of the Private Placement for the following purposes:      

• Continued clinical development, (including completion of enrolment of the PARADIGME study), and commercial preparation of Betalutin      
• Manufacturing development activities for Biological License Application (BLA) readiness        
• General corporate purposes.

The Private Placement and the issuance of the new shares was resolved by the Company's Board of Directors (the "Board") at a Board meeting held on 18 October 2019, based on the authorisation granted to the Board at the Company's annual general meeting on 25 April 2019 (the "Authorisation").

Notification of allotment of the new shares in the Private Placement and payment instructions will be sent to the applicants through a notification from the Managers. The Private Placement has been divided into the following two tranches:

- 5,511,946 New Shares will be settled with existing and unencumbered shares in the Company that are already listed on the Oslo Stock Exchange, pursuant to a share lending agreement between DNB Markets (on behalf of the Managers), the Company and HealthCap VI L.P (the "Tranche 1 Shares"). The Tranche 1 Shares will be delivered to the subscribers, by way of the borrowed shares on a delivery versus payment basis on 22 October 2019. The Tranche 1 Shares delivered to the subscribers will be tradable from allocation. The Managers will settle the share loan on or about 24 October 2019 with a corresponding number of new shares in the Company the Board has resolved to issue pursuant to the Authorisation.