In connection with the offering to acquire newly issued shares in Isofol and the listing on Nasdaq First North Premier (the “Offering”), Pareto Securities, in its capacity as stabilisation manager, may carry out transactions aimed at supporting the market price of the Company’s shares at a level higher than what might otherwise have prevailed in the market. Such stabilization transactions may be effected on any securities market, over-the-counter (OTC) market or otherwise, at any time during the period starting on the date of commencement of trading in the Company’s shares on Nasdaq First North Premier and ending 30 calendar days thereafter. However, Pareto Securities has no obligation to undertake any stabilization. Stabilization, may be discontinued at any time and without prior notice.
Pareto Securities has announced that stailisation measures have been taken (in accordance with Article 3.2(d) of the EU Market Abuse Regulation) on Nasdaq First North Permier in accordance with what is set out below.
|Issuer:||Isofol Medical AB (publ)|
|Offering size (shares):||14,828,000|
|Over-allotment option (shares):||1,482,800|
|Offering price (SEK):||29.00|
|Stabilisation manager:||Pareto Securities|
|Date||Quantity (# shares)||Price (high)||Price (low)||Price (average)||Currency||Market place|
|2017-04-26||5,800||23.6||23.0||23.3||SEK||Nasdaq First North Premier|
|2017-04-27||8,574||24.5||23.5||24.5||SEK||Nasdaq First North Premier|
Pareto Securities has conducted stabilization transactions comprising 1,482,800 shares as per 2017-04-27, including the previously announced stabilisation transactions. The stabilisation period has thus been terminated and no further stabilisation transactions will be conducted.
Furthermore, Pareto Securities will not use the Over-allotment Option described below. Thus, Isofol will not issue any further shares in connection with the Offering and no further proceeds will be transferred to the Company. The total number of outstanding shares after the Offering amounts to 31,604,500.
In order to cover any over-allotment in connection with the Offering the Company has, at the request of Pareto Securities, undertaken to issue a maximum of 1,482,800 additional newly issued shares, corresponding to a maximum of 10 percent of the number of shares in the Offering. The Over-allotment Option can be fully or partly exercised within 30 calendar days from the first day of trading of the Company’s shares.
For additional information, please contact:
Anders Rabbe, Managing Director, Isofol
Mob: +46 70 764 65 00
Jan-Eric Österlund, Executive Chairman, Isofol
Mob: +44 77 853 68 155
About Isofol Medical AB (publ)
Isofol is a clinical stage oncology company developing Modufolin® as a first-line treatment of metastatic colorectal cancer and as a rescue drug after high-dose methotrexate treatment in osteosarcoma. Isofol aims to replace the existing folate-based compounds leucovorin and levoleucovorin, which today are considered the standard treatment within these indications. Through an exclusive license agreement, Isofol Medical holds all rights to commercialising Modufolin® globally for cancer treatment with access to the unique patented production process and the production capabilities of Merck KGaA, Darmstadt, Germany.
Modufolin® (active ingredient [6R]-5,10-methylenetetrahydrofolate), is a novel folate-based compound developed to increase the efficacy and reduce the side effects of antimetabolites used in cancer treatment. It is the key active metabolite of the widely used folate-based drugs leucovorin and levoleucovorin, and therefore does not require metabolic activation. This makes Modufolin® suitable for all patients irrespective of their genetical capacity to activate folates, and it is currently being evaluated in two clinical Phase II studies.
Third most common cancer
Colorectal cancer is the third most common cancer, affecting both men and women, and is the third leading cause of cancer-related death. Approximately 1.35 million people per year are diagnosed with the disease worldwide. In the US, Western Europe and Japan, where an estimated 550,000 patients are diagnosed with colorectal cancer, about 365,000 patients annually receive a treatment regimen including 5-FU and the folate leucovorin or levoleucovorin, which Isofol is aiming to replace with Modufolin®.
This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, New Zealand, Hong Kong, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
Any Offering of securities referred to in this announcement will only be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”). Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus. In any EEA Member State, other than Sweden that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.
This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” “continue,” “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.