On 19 January 2022, Oasmia announced that the Board of Directors had resolved to carry out a rights issue of approximately SEK 151 million (the “Rights Issue”). The Board of Directors’ resolution of the Rights Issue was approved by the Extraordinary General Meeting held on 21 February 2022.
Summary of the Rights Issue
- The purpose of the Rights Issue is to finance the continued development of the Company and its projects in accordance with its business plan and strategy.
- Shareholders in Oasmia have preferential right to subscribe for one (1) new share per every five (5) existing shares, i.e. a subscription ratio of 1:5.
- The subscription price has been set to SEK 1.68 per share which, assuming that the Rights Issue is fully subscribed, amounts to issue proceeds of approximately SEK 151 million before the deduction of issue costs.
- The subscription period runs from 8 March 2022 through 22 March 2022.
- The record date for the Rights Issue is 4 March 2022. The last day of trading in Oasmia’s shares including right to receive subscription rights in the Rights Issue is 2 March 2022 and the first day of trading in Oasmia’s shares without receiving subscription rights in the Rights Issue is 3 March 2022.
- Trading in subscription rights will take place on Nasdaq Stockholm during the period from 8 March 2022 through 17 March 2022.
- The Company’s largest shareholder, Per Arwidsson through Arwidsro Investment AB and Fastighets AB Arwidsro, representing approximately 24.8 percent of the total number of shares and votes in Oasmia, has undertaken to subscribe for its pro-rata share of the shares in the Rights Issue. Additionally, a consortium of external investors have given guarantee commitments to Oasmia of SEK 113 million, corresponding to approximately 75.2 percent of the Rights Issue. Thus, the Rights Issue is fully secured.
- The Rights Issue comprises a maximum of 89,673,909 shares.
Preliminary timetable