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Moberg Pharma completes share issue of SEK 60 million

The company has completed a directed share issue of 2.1 million new shares, which brings SEK 60 million to the company before transaction costs.

The new share issue, which was resolved by the Board of the company on May 27th, 2014 with authorization from the Annual General Meeting on May 13th, 2014, includes 2,068,965 new shares and has been directed to a limited group of Swedish and international institutional qualified investors at a price of SEK 29 per share through a private placement procedure.

The proceeds from the directed share issue strengthens Moberg Pharma’s balance sheet and enables value-creating investments, including acquisitions of additional brands/products as well as preparations for licensing and development of product candidates in clinical phase.


“We are very pleased with the interest for the new share issue and welcome our new shareholders. The new issue strengthens Moberg Pharma’s financial position and enables further investments with focus on acquisitions of established products for our U.S. operations. In the last 18 months we have completed three deals. Continued M&A activity is an integral element of our strategy”, comments Peter Wolpert, CEO of Moberg Pharma.

The reasons for the deviation from the shareholders’ pre-emptive rights are that the Board of the company deems it beneficial for the company and the shareholders to expand the company´s institutional shareholder base, but also to capitalize on the opportunity to raise new capital to the company at attractive terms.

The subscription price has been set through a customary bookbuilding process. The subscription price entails a discount of approximately 7.3 percent in relation to the average daily price for the last 30 trading days as of the last day of trading before the decision to issue the new shares.

The new share issue in Moberg Pharma increases the number of shares with 2,068,965 shares from 11,893,572 shares to 13,962,537 shares in total and increases the share capital by SEK 206,896.50 from SEK 1,189,357.20 to SEK 1,396,253.70 in total. The new share issue entails a dilution of approximately 15 percent.


Source: Moberg Pharma