LIDDS completes a direct share issue raising SEK 8.0 million

The board of directors of LIDDS AB has decided to carry out a directed issue of 467,783 shares at a subscription price of SEK 17 per share (Press release, Lidds, FEB 26, 2020, View Source [SID1234555854]). LIDDS will through the directed share issue receive proceeds amounting to SEK 8.0 million, before transaction costs.

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The board of directors of LIDDS has, based on the authorization given by the annual general meeting on May 16, 2019, decided to carry out a directed issue of 467.783 shares to new and current investors.

The subscription price in the Directed Share Issue is set to SEK 17,00 and has been determined by volume weighted average price during the last 5 business days with a discount of 5%. Through the Directed Share Issue, LIDDS will raise SEK 8.0 million before transaction costs.

The Directed Share Issue entails a dilution of approximately 1.9 percent of the number of shares and the votes in the Company. Through the Directed Share Issue, the number of outstanding shares and votes will increase by 467,783 shares from 24,254,888 shares to 24,722,671 shares. The share capital will increase by SEK 24,792.50 from SEK 1,285,509.07 to SEK 1,310,301.56.

The reason for the deviation from the shareholders’ preferential rights, is to strengthen the shareholder base and to finance LIDDS’ exciting development projects. The Directed Share Issue will primarily be used to finance the NZ-TLR9 immuno-oncology project which includes an upcoming Phase I clinical trial.

Subscribers in the Directed Share Issue are new shareholders and existing shareholders including Nyenburgh Holding, a life science investment fund based in Amsterdam.