On October 18, 2021 Isofol Medical AB (publ), (Nasdaq First North Premier Growth Market: ISOFOL), ("Isofol" or the "Company"), reported that the prospectus prepared by the Company in connection with the listing on Nasdaq Stockholm has been approved and registered by the Swedish Financial Supervisory Authority (Finansinspektionen) (Press release, Isofol Medical, OCT 18, 2021, View Source [SID1234591501]). The prospectus contains updated financial information, due to regulatory requirements, attributable to the Company’s equity and liabilities as well as net indebtedness as of July 31, 2021. The prospectus is available on Isofol’s website, www.isofolmedical.com and on the Swedish Financial Supervisory Authority’s website, www.fi.se.
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Prospectus and new financial information
On October 15, 2021 Isofol announced that Nasdaq Stockholm’s listing committee made the assessment that Isofol fulfills the applicable listing requirements and will approve an application for admission to trading of the Company’s shares on Nasdaq Stockholm, provided that certain customary conditions are fulfilled, including approval and registration of a prospectus by the Swedish Financial Supervisory Authority. The prospectus that has been prepared in connection with the listing was approved and registered today by the Swedish Financial Supervisory Authority and is now available on Isofol’s website, www.isofolmedical.com and on the Swedish Financial Supervisory Authority’s website, www.fi.se.
The prospectus contains previously unpublished financial information attributable to Isofol’s equity and liabilities and net indebtedness as of July 31, 2021. The financial information, which is also outlined below, is presented due to regulatory requirements, according to which financial information regarding the capital structure must not be older than 90 days at the time of the prospectus’ publication. Note that only interest-bearing liabilities are reported in the tables below. The information has not been reviewed by the Company’s auditor.
Equity and liabilities as of July 31, 2021
KSEK Unaudited
Total current liabilities 1 613
For which guarantees have been issued –
Against other security –
Without secutity 1 613
Total long-term liabilities 687
Guaranteed –
With security –
Without guarantee/security 687
Equity 413 972
Share capital 4 945
Other contributed capital 1 217 607
Retained earnings -809 581
Total 416 272
Net indebtedness as of July 31, 2021
KSEK Unaudited
(A) Cash and cash equivalents 483 906
(B) Other cash and cash equivalents –
(C) Other financial fixed assets –
(D) Liquidity (A) + (B) + (C) 483 906
(E) Current financial liabilities (including debt instruments, but excluding the current portion of long-term financial liabilities) 1 613
(F) Current portion of long-term financial liabilities –
(G) Current financial indebtedness (E + F) 1 613
(H) Net current financial indebtedness (G – D) -482 293
(I) Long-term financial liabilities (excluding current portion and debt instruments) 687
(J) Debt instruments –
(K) Long-term accounts payable and other liabilities –
(L) Long-term financial debt (I + J + K) 687
(M) Total financial indebtedness (H + L) -481 606
Additional information about the listing
The first day of trading on Nasdaq Stockholm’s Main Market is planned to take place on Thursday, October 21, 2021 and the final day of trading on Nasdaq First North Premier Growth Market is expected to be Wednesday, October 20, 2021.
The Company’s shares will be traded with unchanged ticker ISOFOL and ISIN-code (SE0009581051). No new shares will be issued in connection with the shares being admitted to trading on Nasdaq Stockholm and the Company’s shareholders do not need to take any action in connection with the listing.
Advisors
Isofol has engaged Advokatfirman Vinge KB as legal advisor and Carnegie Investment Bank AB (publ) as financial advisor in connection with the listing on Nasdaq Stockholm.
The information was submitted for publication, through the agency of the contact person set out above, at 13:00 CEST on October 18, 2021.
About arfolitixorin
Arfolitixorin is Isofol’s proprietary drug candidate being developed to increase the efficacy of standard of care chemotherapy for advanced colorectal cancer. The drug candidate is currently being studied in a global Phase III study, AGENT. As the key active metabolite of the widely used folate-based drugs, arfolitixorin can potentially benefit more patients with advanced colorectal cancer, as it does not require complicated metabolic activation to become effective.