STOCKHOLM, SWEDEN – 27 September 2019. Karolinska Development AB (Nasdaq Stockholm: KDEV) (“Karolinska Development” or the “Company”) prospectus supplement relating to the directed issue of series B shares to the holders of the Company’s 2015/2019 convertible loan (the “Directed share issue”) was approved by and registered with the Swedish Financial Supervisory Authority on September 27, 2019.
The prospectus supplement has been prepared due to Karolinska Development’s announcement on September 23, 2019 that the Company’s portfolio company Aprea Therapeutics has filed an amendment to the registration statement filed on September 6, 2019 with the U.S. Securities and Exchange Commission (SEC) and has set the price range for the potential initial public offering of its shares of common stock at USD 14-16 per share. Provided the completion of the initial public offering, the net profit effect due to changed valuation of the Karolinska Development holding, based on the price range in the offering, would be approx. SEK 45–78 million. Karolinska Development has signed a customary lock up agreement, preventing a sale of the shares during a 180 days period calculated from the end of the offer period. In addition financial information from the Company’s interim report for the period January - June 2019 has been included in the prospectus supplement.
The prospectus supplement relating to the Directed share issue is now available at the Company’s website (www.karolinskadevelopment.com) and DNB Markets’ website (www.dnb.se/emission).
Investors who prior the publication of this prospectus supplement have applied for or otherwise consented to subscribe for shares in the Offer are pursuant to Chapter 2, Section 34 of the Swedish Financial Instruments Trading Act are entitled to withdraw their application or consent within two business days from the publication of the Supplement Prospectus, i.e., until September 1 October 2019. Revocation must be made in writing to DNB Markets Securities Services, SE-105 88 Stockholm Sweden, or by e-mail to emissioner@dnb.se. Investors who have subscribed for shares through a nominee shall contact their nominee for revocation. Application that is not withdrawn within the specified time frame will remain binding and investors who do not wish to withdraw their application for subscription of shares do not have to take any action.
For further information about the Directed Share Issue, please refer to the Company’s press releases issued on 29 May, 26 June, 28 June and 5 July 2019.
Advisers
DNB Markets is acting as financial adviser and Cirio Advokatbyrå as legal adviser to Karolinska Development in connection with the Directed share issue.
MPORTANCE NOTICE
Publication or distribution of this press release in certain jurisdictions may be subject to restrictions according to law and persons in jurisdictions where this press release has been made public or distributed should inform themselves and follow such legal restrictions. This press release does not contain and does not constitute an invitation or an offer to acquire, subscribe or otherwise trade in shares or other securities in Karolinska Development.
This press release may not be published, distributed or made public, directly or indirectly, in or into the US, Australia, Hong Kong, Japan, Canada, New Zeeland, Switzerland, Singapore, South Africa or in any other jurisdiction where such action, completely or partially, is subject to legal restrictions. The information in this press release may not be redistributed, reproduced or passed on in ways that conflict with applicable restrictions. Failure to comply with these restrictions may constitute a violation of the United States Securities Act of 1933 or applicable laws of other jurisdictions.
For more information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com
Fredrik Järrsten, CFO and deputy CEO, Karolinska Development AB
Phone: +46 70 496 46 28, e-mail: fredrik.jarrsten@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has established a portfolio of ten companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.
For more information: www.karolinskadevelopment.com.
This information is information that Karolinska Development AB (publ) (Nasdaq Stockholm: KDEV) is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication, through the agency of Viktor Drvota, at 17.30 CET on 27 September 2019.
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