Implantica has decided to proceed with a private placement of SDRs raising gross proceeds of approximately SEK 600 million
STOCKHOLM, April 15, 2021 /PRNewswire/ -- Implantica AG (ticker: IMP A SDB) ("Implantica" or the "Company") has decided to proceed with a private placement of 4,900,000 newly issued Class A shares represented by Swedish Depository Receipts ("SDRs") at a subscription price of SEK 122.20 per SDR (the "Private Placement"). The Private Placement is subject to the board of directors formally resolving on the Private Placement following the authorization to be granted by the Annual General Meeting (the "AGM") on 16 April 2021. The subscription price per SDR in the Private Placement was determined through an accelerated book building procedure conducted by Pareto Securities AB (the "Sole Global Coordinator and Bookrunner"). The Private Placement was multiple times over-subscribed and was directed to a number of new and existing institutional investors, including DNCA Investments, Handelsbanken Fonder, Invus, Swedbank Robur Fonder and TIN Fonder.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, SINGAPORE, HONG KONG, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.The board of directors of Implantica has, in line with the intentions set out in the Company's press release published earlier today, decided to proceed with a directed new share issue of 4,900,000 new Class A shares, represented by a corresponding number of SDRs, at a subscription price of SEK 122.20 per SDR. The subscription price corresponds to a discount of approximately 1.0 percent to the 10-day volume weighted share price of Implantica's SDRs, as traded on Nasdaq First North Premier Growth Market. The resolution regarding the Private Placement is subject to the board of directors formally resolving on the Private Placement following the authorization to be granted by the AGM. The Company's largest shareholder Implantica MediSwiss AG, representing the majority of the votes in the Company, has entered into an undertaking to vote in favour of all of the proposals and resolutions by the board of directors relating to the share issue authorization at the AGM 2021. The Company will receive proceeds of approximately SEK 600 million before transaction costs. Since the subscription price in the Private Placement has been determined through an accelerated book building procedure it is the board of directors' assessment that the subscription price is in accordance with market conditions.