trending Market Intelligence /marketintelligence/en/news-insights/trending/AHNWR6tXIdvNUBGpJyLjRw2 content esgSubNav
In This List

Immunicum raises 200M Swedish kronor from rights issue

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model


Immunicum raises 200M Swedish kronor from rights issue

Immunicum AB (publ) raised about 200 million Swedish kronor in gross proceeds from its 90% secured rights issue with preferential rights for existing shareholders.

The new shares issued will take the total number of issued shares to 50,958,531 shares from 25,958,541 shares.

The company said about 100 million kronor, or 44.9% of the rights issue, was subscribed for; about 95 million kronor, corresponding to 42.6% of the rights issue, was subscribed for by way of subscription rights and about 5 million kronor, corresponding to 2.3% of the rights issue, was subscribed for and allotted to investors who have subscribed for shares without subscription rights.

Remaining share of the secured part of the rights issue, corresponding to roughly 100 million kronor, was allotted to guarantors.

The paid subscribed shares will be converted into new shares, which will start trading on Nasdaq Stockholm on Jan. 15, 2018.

After deduction of transaction costs, the rights issue provides Immunicum with about 168 million kronor.

The company plans to use the proceeds for its clinical trial of ilixadencel, as a treatment for advanced liver cancer. Immunicum CEO Carlos de Sousa said the company secured sufficient working capital for 12 months, which will fulfill the requirement of the company listing on Nasdaq Stockholm.

Pareto Securities AB is acting as financial adviser, and Advokatfirman Delphi is legal adviser to Pareto Securities AB and Immunicum in connection with the rights issue.

As of Dec. 28, US$1 was equivalent to 8.25 Swedish kronor.