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The Board of Directors of LIDDS AB ("LIDDS" or the "Company") has, in accordance with the press release issued by the Company on 27 May 2021 and based on the authorization from the Annual General Meeting on 17 May 2021, resolved on a directed new issue of 4,314,475 shares by payment in cash to a limited number of investors (the "Share Issue"), and hereby the Company will be provided with approximately 45 MSEK before issue costs. The subscription price in the Share Issue was determined SEK 10.43 per newly subscribed share on basis of the volume-weighted average price for 5 trading days during the period between 17-21 May 2021. LIDDS intends to use the proceeds from the Share Issue primarily to finance the company and its development projects.
The Share Issue was directed to a number of Swedish and international investors, among others Hans Isoz, Martin Linde and Mohamad Takawa. The reasons for the deviation from the shareholders' preferential rights are to raise capital in a timely and cost-effective manner for the Company's continued expansion and to diversify the Company's shareholder base.
The Share Issue will increase the number of shares in LIDDS by a maximum of 4,314,475, from 29,675,316 to 33,989,791 shares. The share capital increases by SEK 228,667.175 from SEK 1,572,791.748 to SEK 1,801,458.923 The new share issue will entail a dilution for existing owners of approximately 12.7 percent based on the number of shares in the Company after the Share Issue.
Advokatfirman Delphi was legal advisor to the Company in connection with the capital raise.
LIDDS AB is required to disclose this information pursuant to Nasdaq First North Growth Market – Rulebook. The information was submitted for publication, through the agency of the aforementioned contact person, on June 2, 2021 at 10.00 pm CEST.
This press release is in all respects a translation of the Swedish original press release. In the event of any differences between this translation and the Swedish original, the latter shall prevail.
LIDDS AB (publ) is a Swedish-based pharmaceutical company with a unique drug delivery technology NanoZolid®. NanoZolid® is a clinically validated drug development technology and superior in its ability to provide a controlled and sustained release of active drug substances for up to six months. LIDDS has licensing agreements where NanoZolid is combined with antiandrogens and in-house development projects in clinical and preclinical phase for cytostatics and immunoactive agents. LIDDS (LIDDS) shares are listed on Nasdaq First North Growth Market. Redeye AB, firstname.lastname@example.org, +46 (0)8 121 576 90, is a certified adviser to LIDDS. For more information, please visit liddspharma.com.