On 20 February, 2018, Xspray Pharma AB (publ) held an extraordinary general meeting. The following resolution, among others, were passed at the general meeting.
Directed issue of shares
The general meeting resolved, in accordance with the board of directors’ proposal, to carry out a directed issue of not more than 1,350,000 new shares, entailing an increase in the share capital of not more than SEK 1,350,000. The right to subscribe for the new shares in the directed issue shall, with deviation from the shareholders’ pre-emption rights, be granted to a limited number of strategic or institutional investors. The reason for the deviation from the shareholders’ pre-emption rights is to strengthen the institutional shareholder base of the company, whilst in an efficiently managed and timely manner raise capital for the development of additional drug candidates.
The subscription price per share has been determined to SEK 65. The basis for the subscription price has been determined through a so-called private placement procedure and represented a discount of 2 percent compared to the volume weighted average price during the five trading days prior to the board of directors’ proposal on the directed issue which was made public on 30 January 2018.
For further information, please contact:
Per Andersson, CEO, Xspray Pharma AB (publ)
Mobile: +46 (0)706 88 23 48
The information was submitted for publication, through the agency of the contact person set out above, at 12.25 CET on 20 February 2018.
About Xspray Pharma
Xspray Pharma AB (publ) is a product development company with several product candidates under clinical development. Xspray uses its innovative RightSize-technology in order to develop improved and generic versions of already marketed cancer drugs, primarily protein kinase inhibitors (PKI), for treating cancer. The segment is the second largest within the oncology department and the drug prices are very high. Through its innovative technology, Xspray can enter the market as first competitor to the original drugs available today without the hindrance of secondary patents. Xspray’s goal is to ha three products ready for launch on the American market during the period 2020-2023, with a first product launched at the latest by 2021. The company has patents on production technology, equipment and the resulting products. The shares in Xspray Pharma (publ) are traded on Nasdaq First North Stockholm and Redeye is the Certified Adviser for the company.
Xspray Pharma AB (publ)
Gunnar Asplunds Allé 32
171 63 Solna