The result of Infant Bacterial Therapeutics AB’s (“IBT” or the “Company”) rights issue, for which the subscription period ended on 23 May 2016, indicates that 3,575,583 shares, corresponding to approximately 97.5 percent of the offered shares, were subscribed for by exercise of subscription rights. Additionally, applications for subscription without subscription rights of 2,215,458 shares, corresponding to approximately 60.4 percent of the offered shares, have been received. Thus, the rights issue is fully subscribed. Through the rights issue, IBT will receive proceeds amounting to approximately SEK 100 million before transaction costs.
Those who have subscribed for shares without subscription rights will be allotted shares according to the principles outlined in the prospectus. Such subscribers who have been allotted shares without subscription rights are expected to be notified on 26 May 2016. Only those who are allotted shares will be notified.
Through the rights issue IBT’s share capital increases by approximately SEK 1,000,000 from SEK 500,000 to approximately SEK 1,500,000 and the total number of shares increases by 3,669,092 from 1,834,546 to 5,503,638 when the rights issue is registered by the Swedish Companies Registration Office.
The final day for trading in paid subscribed shares (BTAs) was 25 May 2016. The new shares subscribed for with subscription rights are expected to start trading on Nasdaq First North on 29 May 2016, and the shares subscribed for without subscription rights on 31 May 2016.
Carnegie Investment Bank is financial advisor and Advokatfirman Vinge is legal advisor to IBT.
Staffan Strömberg, CEO, phone: +46 8 410 145 55
Peter Rothschild, chairman, phone: +46 8 410 145 55
Infant Bacterial Therapeutics AB (publ)
111 21 Stockholm
Phone: +46 8 410 145 55
IBT discloses this information in accordance with Swedish Securities Market Act. The information was provided for publication at 8.00 AM on 26 May 2016.
This press release is not a prospectus or an offer to subscribe for shares in IBT and an investor shall not subscribe for or purchase any securities, except on the basis of information provided in the prospectus.
This press release may not be made public, released or distributed, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada, Singapore, South Africa or New Zealand or in any other jurisdiction in which the distribution of this press release would be unlawful. Further, this press release does not constitute an offer to sell new shares, paid subscribed for shares (“BTA”) or subscription rights to any person in any jurisdiction in which it is unlawful to make such offer to such person or where such action would require additional prospectuses, registration or other measures other than those pursuant to Swedish law. The prospectus, application forms and other documents associated with the rights issue may not be distributed in or to any country where such distribution or the rights issue would require such measures set forth in the preceding sentence or be in violation of the regulations of such country.
The new shares, BTAs and subscription rights have not been recommended by a United States federal or state securities commission or regulatory authority. No new shares, BTAs, subscription rights or other securities issued by IBT have been or will be registered under the U.S. Securities Act of 1933, as amended, or under the securities legislation in any state of the United States or any province in Canada. Accordingly, no new shares, BTAs, subscription rights or other securities issued by IBT may be transferred or offered for sale in the United States or Canada, other than in such exceptional cases that do not require registration. The securities issued in the rights issue will not be offered to the public in the United States.
IBT has not authorized any offer of securities to the public in any country in the European Economic Area (“EEA”) other than Sweden. In other member states in the EEA which have implemented the Directive 2003/71/EC (the “Prospectus Directive”) (each, a “Relevant Member State”), no action has been undertaken and will not be undertaken to make an offer of securities to the public requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States to (a) any legal entity which is a qualified investor as defined in the Prospectus Directive; or (b) any person falling within Article 3(2) of the Prospectus Directive.
The rights issue is only directed at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). The securities issued in the rights issue will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.