September 27, 2019 / 6:33 AM / a month ago

BRIEF-Redwood Pharma Rights Issue Significantly Oversubscribed

Sept 27 (Reuters) - Redwood Pharma:

* CO’S BOARD OF DIRECTORS ANNOUNCED ON THURSDAY RESULTS OF NEW RIGHTS ISSUE

* ISSUE WAS OVERSUBSCRIBED BY 591%

* ISSUE BRINGS PROCEEDS OF ABOUT SEK 11.5 MLN BEFORE ISSUE COSTS OF ABOUT SEK 0.3 MLN

* BOARD PLANS TO CARRY OUT DIRECTED ISSUE OF 428,620 SHARES AT SEK 7.25 PER SHARE TO OFFSET BRIDGE LOANS FROM WILHELM RISBERG AND FREDRIK LUNDGREN

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