Oasmia’s rights issue has been oversubscribed

The preliminary result of the rights issue in Oasmia Pharmaceutical AB (publ) (”Oasmia” or the “Company”), in which the subscription period ended on 4 December 2019, amounts to 198,329,980 shares subscribed for in the rights issue with subscription rights, which corresponds to approximately 99.5 percent of the rights issue. In addition, the Company has received applications to subscribe for 78,277,041 shares without subscription rights, corresponding to approximately 39.3 percent of the rights issue. Thus, the rights issue has been oversubscribed.

“I am very pleased with the outcome in the rights issue, and grateful for the support from our shareholders. I’m impressed by the Oasmia team’s performance to, under pressure, show the market their determination to transform Oasmia into a commercial entity with a thrilling agenda going forward”, comments Jörgen Olsson, Chairman of the Board.

The preliminary result of the rights issue in Oasmia, in which the subscription period took place from and including 20 November 2019 up to and including 4 December 2019, amounts to 198,329,980 shares subscribed for in the rights issue with subscription rights, which corresponds to approximately 99.5 percent of the rights issue. Through the previously announced subscription commitment, Per Arwidsson via Arwidsro Investment AB has subscribed for 22,500,000 of these shares through set-off in the rights issue. In addition, the Company has received applications to subscribe for 78,277,041 shares without subscription rights, corresponding to approximately 39.3 percent of the rights issue. Accordingly, in total 276,607,021 shares have been subscribed or registered for subscription in the rights issue, which corresponds to approximately 138.8 percent of the rights issue. Thus, the rights issue has been oversubscribed.

Oasmia will receive proceeds amounting to approximately SEK 399 million before deduction of costs related to the rights issue. Through the rights issue, Oasmia’s share capital will increase by SEK 19,927,535.2 from SEK 24,909,419.4 to SEK 44,836,954.6 by issuing 199,275,352 new shares. The total number of shares will amount to 448,369,546 shares after the rights issue has been registered.

Those who have subscribed for shares without subscription rights will be allotted shares in accordance with the principles in the prospectus published by Oasmia on 19 November 2019. As confirmation of allotment of shares subscribed for without subscription rights, a contract note will be sent on or about 10 December 2019. Subscribed and allotted shares must be paid for in cash in accordance with the instructions in the contract note. Nominee-registered shareholders will receive notice of allotment in accordance with the procedures of the nominee. Only those who have been allotted shares will be notified.