April 27, 2020 / 6:41 AM / a month ago

BRIEF-Initiator Pharma Performs Directed Issue, Suggests Fully-guaranteed Rights Issue

April 27 (Reuters) - Initiator Pharma A/S:

* INITIATOR PHARMA A/S PERFORMS DIRECTED ISSUE AND SUGGESTS FULLY GUARANTEED RIGHTS ISSUE WITH THE AIM OF COMPLETING A PHASE IIA CLINICAL TRIAL WITH IP2018

* DIRECTED ISSUES ARE DIRECTED TO FORMUE NORD MARKEDSNEUTRAL A/S

* TO CARRY OUT A RIGHTS ISSUE OF UNITS OF INITIALLY APPROXIMATELY SEK 7 MILLION

* DIRECTED SHARE ISSUE AND RIGHTS ISSUE THUS INITIALLY PROVIDES INITIATOR PHARMA A TOTAL OF ABOUT SEK 10 MILLION (BEFORE ISSUE COSTS)

* THROUGH ISSUES, WARRANTS ARE ISSUED WHICH DURING Q4 2020 CAN PROVIDE INITIATOR PHARMA WITH A TOTAL OF APPROXIMATELY SEK 16.4 MILLION

* HAS ENTERED INTO AN AGREEMENT ON A LOAN FACILITY THAT GIVES COMPANY RIGHT TO LEND UP TO SEK 10 MILLION, AS A SECURITY IF WARRANTS ARE NOT EXERCISED

* SUBSCRIPTION PRICE IN RIGHTS ISSUE, WHICH AMOUNTS TO SEK 9.80 PER UNIT (CORRESPONDING TO SEK 4.90 PER SHARE)

* SUBSCRIPTION PERIOD RUNS FROM JUNE 2, 2020 TO JUNE 16, 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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