Oasmia Pharmaceutical AB (publ) raised about 42.0 million Swedish kronor in a private placement of a convertible loan with a limited group of investors.
Oasmia placed 42 new convertible instruments with the investors for a nominal value of about 1.0 million kronor per convertible instrument in an accelerated bookbuild. The interest-free convertible loan will mature April 25 if not converted to shares, called for or repaid.
Oasmia plans to use the proceeds to strengthen its working capital and finance continuing operations.
Following the full conversion into shares, Oasmia's outstanding shares will increase to 126,098,166 from 119,039,310.
As of March 31, US$1 was equivalent to 8.93 Swedish kronor.