March 17, 2020 / 6:36 AM / 14 days ago

BRIEF-Irras Resolves On Fully Underwritten Rights Issue Of SEK 217 Mln

March 17 (Reuters) - Irras AB:

* IRRAS’ BOARD OF DIRECTORS RESOLVES ON A FULLY UNDERWRITTEN RIGHTS ISSUE OF APPROXIMATELY SEK 217 MILLION

* SUBSCRIPTION PRICE IS SEK 5.80 PER SHARE

* SUBSCRIPTION PERIOD IN RIGHTS ISSUE IS EXPECTED TO COMMENCE ON 26 MARCH 2020 AND CLOSE ON 9 APRIL 2020

* ISSUE WILL BE USED TO FINANCE CONTINUED COMMERCIALIZATION OF COMPANY’S PRODUCTS, IRRAFLOW AND HUMMINGBIRD, CORPORATE PURPOSES

* PROVIDED THAT RIGHTS ISSUE IS FULLY SUBSCRIBED, IRRAS WILL RECEIVE APPROXIMATELY SEK 217 MILLION BEFORE DEDUCTION OF TRANSACTION COSTS

* CARNEGIE INVESTMENT BANK IS ACTING AS GLOBAL COORDINATOR AND JOINT BOOKRUNNER IN TRANSACTION WHILE PARETO SECURITIES IS ACTING AS JOINT BOOKRUNNER Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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