The Supervisory Board of Exiqon A/S (NASDAQ OMX Copenhagen A/S: “EXQ”) has today resolved to launch a directed issue of up to 1,805,056 new shares of DKK 1.00 nominal value at market price through an accelerated book-building process.
The offering represents approximately 5 % of the Company's currently registered share capital of DKK 35,069,026. Gross proceeds are expected to be approximately DKK 15m.
The offering of new shares will be made to new as well as existing investors from Denmark and abroad in a directed issue without pre-emption rights to Exiqon’s existing shareholders.
The book-building process will open immediately and the result of the offering, offer price and allocation are expected to be announced as soon as practicable thereafter.
If the offering is oversubscribed, an individual allocation of shares will be made.
The decision to launch an offering of up to 1,805,056 new shares of a nominal value of DKK 1.00 each in a directed issue is made pursuant to articles 3b1 of Exiqon’s articles of association by which the Supervisory Board is authorized to make share capital increases.
Assuming subscription of all the new shares, the nominal share capital of Exiqon will amount to DKK 36,874,082 divided into shares of DKK 1 each.
The new shares will be negotiable instruments made out in the name of the holder. There will be no restrictions in the transferability of the shares. The new shares will in every respect carry the same rights as the existing shares, including the right to receive dividends, if any, for the financial year 2012 and other rights in the Company as from the time of registration of the capital increase with the Danish Business Authority which is expected to take place on 27 June 2012.
Use of proceeds
The proceeds will be used to strengthen the company’s capital resources.
Admission for trading and official listing
The new shares will be issued under the temporary ISIN code DK0060442630. No application for trading and official listing has been filed for the temporary ISIN code, and the temporary ISIN code will only be registered with VP Securities A/S. The temporary ISIN code will be merged with the existing ISIN code for the existing shares, DK0060077758, as soon as possible following registration of the share capital increase with the Danish Business Authority, expectedly on 27 June 2012. The new shares are expected to be admitted for trading and official listing on NASDAQ OMX Copenhagen A/S on 29 June 2012.
Handelsbanken Capital Markets are acting as financial adviser on this transaction.
Additional information
Lars Kongsbak, President and CEO, tel. +45 4566 0888 (cell: +45 4090 2101)
Hans Henrik Chrois Christensen, CFO, tel. +45 4566 0888 (cell: +45 4090 2131)
