Calliditas Therapeutics AB is looking to sell 14,444,444 new shares at 45 Swedish kronor apiece to raise 650 million kronor in an IPO.
The company granted underwriters an option to buy up to an additional 2,166,666 new shares in the offering for additional gross proceeds of 97 million kronor.
Calliditas will also conduct a set-off issue of its 2,114,903 new shares at the offering price to convert its outstanding bridge loans to shares.
The company's shares are expected to trade on Nasdaq Stockholm under the CALTX symbol beginning June 29.
Calliditas said a majority of the net proceeds will be used to advance its product pipeline, which includes the Nefecon drug to treat IgA nephropathy or Berger's disease, a disease characterized by damage to the tiny filters inside the kidneys.
Carnegie Investment Bank AB is acting as sole coordinator and sole book runner in the IPO, with Stifel Nicolaus Europe Ltd. as co-book runner and Redeye AB as co-lead manager.
Advokatfirman Vinge KB is acting as Calliditas' legal adviser, while Baker & McKenzie Advokatbyrå KB is legal adviser to the managers regarding Swedish law with Baker & McKenzie LLP for matters on U.S. law.
Stockholm-based Calliditas is a specialty pharmaceutical company engaged in the development of pharmaceutical products for treating patients with significant unmet medical needs.
As of June 14, US$1 was equivalent to 8.69 Swedish kronor.