On May 15, 2019 The board of directors of LIDDS AB has reported to carry out a directed issue of 641.200 shares at a subscription price of SEK 13.85 per share (Press release, Lidds, MAY 15, 2019, View Source [SID1234555906]). LIDDS will through the directed share issue receive proceeds amounting to SEK 8.9 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, 2018, decided to carry out a directed issue of 641.200 shares to Swedish and international investors.

The subscription price in the Directed Share Issue is set to SEK 13.85 and has been determined by closing market price on May 14, 2019. Through the Directed Share Issue, LIDDS will raise SEK 8.9 million before transaction costs. The subscription price in the Directed Share Issue constitutes no discount compared the closing price on 14 May 2019.

The Directed Share Issue entails a dilution of approximately 2.7 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 641,200 shares from 23,051,188 shares to 23,692,388 shares. The share capital will increase by SEK 33,983.60 from SEK 1,221,712.96 to SEK 1,255,696.56.

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 project including the Phase I clinical trial of the same proprietary drug candidate.

Subscribers in the Directed Share Issue are Wikow Invest, BWG Invest together with new and existing large shareholders.

Advisers
Advokatfirman Delphi is legal adviser in connection with the Directed Share Issue.