NeuroVive Pharmaceutical AB raised 28.2 million Swedish kronor in gross proceeds from a directed new issuance of 20,897,854 shares.
Each share in the issue was priced at 1.35 Swedish kronor, a 5.1% discount to the closing price of NeuroVive's share listed on the Nasdaq Stockholm on March 6.
Proceeds from the issuance will be used to advance drug development activities.
Stockholm Corporate Finance was the financial adviser and sole book runner for the issue.
As of March 13, US$1 was equivalent to 9.31 Swedish kronor.