On March 23, 2021 BioInvent International AB’s (publ) ("BioInvent") (Nasdaq Stockholm: BINV) Extraordinary General Meeting (the "EGM") reported to approve the Board of Directors’ resolution on a directed share issue of 16,260,601 new shares (Press release, BioInvent, MAR 23, 2021, View Source,be%20completed%20according%20to%20plan. [SID1234577041]).

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The EGM resolved to approve the Board of Directors’ previous resolution on February 23, 2021 on a directed share issue of 16,260,601 shares, whereby the share capital increases by SEK 3,252,120.20. For delivery technical reasons, Pareto Securities AB subscribes for all the new shares at a subscription price corresponding to shares’ quota value, for immediate further transfer on behalf of the Company to the investors participated in the directed issue at a price of SEK 50.36 per share. The new shares are expected to be admitted to trading on March 29, 2021 and the prospectus for admission to trading is expected to be published on March 26, 2021.

The minutes from the extraordinary general meeting will be available on the Company’s website, www.bioinvent.com.

About the directed share issue
Through the directed share issue published in February 2021, BioInvent receives proceeds amounting to approximately SEK 962 million (approximately USD 116 million) before transaction costs. The directed share issue consists of two separate tranches: the already performed first tranche amounting to 2,834,399 new shares, based on the authorization granted by the Extraordinary General Meeting held on 27 November 2020 and the second tranche of 16,260,601 new shares which were approved at today’s Extraordinary General Meeting.

Investors in the directed share issue are a range of international and Swedish institutional investors.

The proceeds from the share issue are intended to fund the continued transformation of BioInvent and expansion of the Company’s clinical programs.