LIDDS publishes Prospectus in connection with the Upcoming Rights issue

Regulatory

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, SWITZERLAND, RUSSIA, THE UNITED STATES OR ANY OTHER JURISDICTION, WHERE SUCH ACTIONS ARE SUBJECT TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER REGARDING ANY SECURITIES IN LIDDS AB. SEE ALSO THE “IMPORTANT INFORMATION” SECTION BELOW.

UPPSALA, SWEDEN – The Board of Directors of LIDDS AB (publ) (“LIDDS” or the “Company”), has, in connection with the Company’s rights issue that was announced on December 16, 2022 (the “Rights Issue”) prepared an EU Growth Prospectus (the “Prospectus”), which today has been approved and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).

Publication of Prospectus

The Prospectus has been prepared in connection with the Rights Issue and has today, January 17, 2023, been approved and registered by the Swedish Financial Supervisory Authority. The Prospectus, containing complete terms and conditions regarding the Rights Issue, is available on LIDDS website (www.liddspharma.com) and Erik Penser Bank’s website (www.penser.se). The Prospectus will also be available on the Swedish Financial Supervisory Authority’s website (www.fi.se).

Summary of the Righs Issue

  • One (1) existing share in LIDDS held on the record date of January 18, 2023 entitles one (1) subscription right.
  • One (1) subscription right entitles for subscription of one (1) newly issued share.
  • The subscription price amounts to SEK 1.40 per share
  • Trading in subscription rights will take place during the period January 23 – February 1, 2023
  • The subscription period runs during the period 23 January – 6 February 2023

The Rights Issue is secured to approximately 95.7 per cent through subscription commitments and guarantee commitments from existing and external parties. If fully subscribed, the Rights Issue brings approximately 48.6 MSEK before issue costs, to the Company. To enable further capital contributions, in the event that the Rights Issue is oversubscribed, the board may exercise an over-allotment option of up to approximately SEK 15.0 million. For further information on the Rights Issue, please refer to the published Prospectus.

Advisors
Erik Penser Bank AB is financial advisor to LIDDS in connection with the share issue and Setterwalls Advokatbyrå AB is legal advisor.

For additional information, please contact

Anders Månsson, CEO
Phone: +46 (0)70 860 47 38
E-mail: anders.mansson@liddspharma.com

Jenni Björnulfson, CFO
Phone: +46 (0)70 855 38 05
E-mail: jenni.bjornulfson@liddspharma.com

LIDDS’ Certified Adviser is Redeye AB

LIDDS in brief:

LIDDS is a Swedish drug delivery company based on the proprietary technology NanoZolid®. With NanoZolid®, LIDDS can formulate drugs for local/intratumoral administration, with a maintained and controlled release for up to six months. The technology is versatile, can be used across different drug classes and can solve problems within many indication areas, mainly within oncology. LIDDS offers the NanoZolid® technology to partners and has developed its own pipeline focused on oncology, where the technology enables delivery of a local and high drug dose, administered over time with very limited side effects. LIDDS has a broad pipeline with several projects in clinical development, both in early and late-stage clinical phase, and projects about to enter clinical development. The company is listed on Nasdaq First North Growth Market.

Important information

This press release may not be published or distributed, directly or indirectly, in or to Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where such action in whole or in part is subject to legal restrictions, or would require additional prospectus, registration or other measures than what follows from Swedish law. The information in this press release may also not be forwarded or reproduced in a way that is contrary to such restrictions or would entail such requirements. Actions contrary to this instruction may constitute a violation of applicable securities legislation. Neither subscription rights, paid and subscribed shares nor new shares subscribed for in the offering have been registered or will be registered under the United States Securities Act of 1933 as currently amended (“Securities Act”) and may not be offered, subscribed for, exercised, pledged, sold, resold, delivered or transferred, directly or indirectly, in or to the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act. The offer is also not directed at persons domiciled in Australia, Canada, Hong Kong, Japan, New Zealand, Switzerland, Singapore, South Africa or in any other jurisdiction where participation would require additional prospectus, registration or other measures than those that follow from Swedish law.

Forward-looking statements
This press release contains certain forward-looking statements that reflect LIDDS’ current views and expectations regarding future events and financial and operational developments, including statements regarding the offering and statements regarding guidance, planning, prospects and strategies. Words such as “intended,” ” predicted,” “expected,” “planned,” “estimated,” “may,” and other expressions that imply indications or predictions of future developments or trends and are not based on historical facts constitute forward-looking statements information. Although LIDDS believes that these statements are based on reasonable assumptions and expectations, LIDDS cannot guarantee that such forward-looking statements will be realized. Because these forward-looking statements involve both known and unknown risks and uncertainties, actual outcomes may differ materially from those expressed in forward-looking information. Forward-looking statements in the press release speak only as of the date of the press release and are subject to change without notice. The company makes no promises to publish updates or revisions to forward-looking statements as a result of new information, future events or the like beyond what is required by applicable laws or stock market regulation.

Attachments

LIDDS publishes Prospectus in connection with the Upcoming Rights issue