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Nordic Nanovector raised 500 MNOK


Nordic Nanovector  has raised MNOK 500 in gross proceeds through a private placement of 4,374,244 new shares.

Nordic Nanovector intends to use the net proceeds to fund a Phase 2 combination study of Betalutin® and Rituximab CD20, fund a Phase 1 study and GMP manufacturing for 177Lu-conjugated chimeric antibody (anti-CD37 ARC), develop new proprietary antibody production technology, accelerate pipeline of pre-clinical assets to clinical trials, prepare for commercial launch of Betalutin and for general corporate purposes.

The Private Placement and the issuance of the new shares was resolved by the company’s Board of Directors at a board meeting held on 6 December 2016, based on the authorisation granted to the Board at the company’s annual general meeting on 19 May 2016. Notification of allotment in the Private Placement and payment instructions will be sent to the applicants today through a notification from the Joint Bookrunners. The new shares will be settled delivery versus payment on 9 December 2016 (regular T+2 settlement), by delivery of 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 Joint Bookrunners) and HealthCap VI L.P. The new shares delivered to the subscribers will thus be tradable from allocation.


Following registration of the new share capital pertaining to the Private Placement in the Norwegian Register of Business Enterprises, expected to take place on or about 13 December 2016, the company will have an issued share capital of NOK 9,794,924, divided into 48,974,618 shares, each with a par value of NOK 0.20.

The Board has assessed the Private Placement in light of the equal treatment requirement, balanced the considerations that speak for and against carrying out the Private Placement and concluded that the waiver of the preferential rights inherent in a private placement was considered necessary in the interest of time and successful completion in the common interest of the Company and its shareholders.