The capital injection will enable
NOT FOR DISTRIBUTION IN
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES REFERRED TO HEREIN, IN OR INTO ANY JURISDICTION WHERE SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
The Placing is being conducted through an accelerated book building process, which will commence immediately following this announcement and may close at any time. The offer price will be determined after the close of the accelerated book-building process. Once the Placing is completed the Board of Directors of
A further announcement will be made following the completion of the Placing. In conjunction with the Placing, the Company has engaged
The net proceeds of the Placing will be used to continue the development and expansion of the Company's R&D pipeline as well as to fund the potential launch and commercialization of imlifidase in kidney transplantation. More specifically, the proceeds will enable the Company to:
· Fund the Company's ongoing and future R&D efforts, including development of imlifidase for additional indications such as antibody-mediated kidney transplant rejection (AMR), Guillain-Barré syndrome (GBS) and anti-GBM disease (GBM);
· Fund Hansa Biopharma's ongoing commercial build-up, including expanding the sales force, in preparation for the potential launch of imlifidase in kidney transplantation in highly sensitized patients in
· Continue to invest in the Company's development of next generation IgG-eliminating enzymes for repeat dosing; and
· Fund working capital and general corporate purposes
The reasons for the deviation from the shareholders' pre-emption rights are to secure a capital raise in a timely and cost-efficient manner, as well as to strengthen the shareholder base of the Company.
Subject to customary exceptions, the Company and the management and board members of the Company have agreed to undertake a lock-up commitment for 90 calendar days following settlement of the Placing.
First half 2020- Key financials
Due to the contemplated directed issue
In MSEK; Unaudited, H1 2020 preliminary H1 2020 H1 2019
Operating profit / loss -193.2 -156.4
Cash flow from operating activities -198.6 -179.6
Cash and short-term investments (
IMPORTANT INFORMATION
THE RELEASE, ANNOUNCEMENT OR DISTRIBUTION OF THIS PRESS RELEASE MAY, IN CERTAIN JURISDICTIONS, BE SUBJECT TO RESTRICTIONS. THE RECIPIENTS OF THIS PRESS RELEASE IN JURISDICTIONS WHERE THIS PRESS RELEASE HAS BEEN PUBLISHED OR DISTRIBUTED SHALL INFORM THEMSELVES OF AND FOLLOW SUCH RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN HANSA BIOPHARMA IN ANY JURISDICTION, NEITHER FROM HANSA BIOPHARMA NOR FROM SOMEONE ELSE.
ANY INVESTMENT DECISION IN CONNECTION WITH THE PLACING MUST BE MADE ON THE BASIS OF ALL PUBLICLY AVAILABLE INFORMATION RELATING TO THE COMPANY AND THE COMPANY'S SHARES. SUCH INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED BY MORGAN STANLEY & CO.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE, OR FORM PART OF, AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITY IN
THE SECURITIES MAY NOT AND WILL NOT BE OFFERED OR SOLD IN
WITH RESPECT TO THE MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (EACH A "RELEVANT MEMBER STATE") AND THE
THIS ANNOUNCEMENT IS ONLY ADDRESSED TO, AND DIRECTED AT, PERSONS IN RELEVANT MEMBER STATES OF THE EUROPEAN ECONOMIC AREA AND IN THE
IN THE
IN
SOLELY FOR THE PURPOSES OF THE PRODUCT GOVERNANCE REQUIREMENTS CONTAINED WITHIN: (A) EU DIRECTIVE 2014/65/EU ON MARKETS IN FINANCIAL INSTRUMENTS, AS AMENDED ("MIFID II"); (B) ARTICLES 9 AND 10 OF COMMISSION DELEGATED DIRECTIVE (EU) 2017/593 SUPPLEMENTING MIFID II; AND (C) LOCAL IMPLEMENTING MEASURES (TOGETHER, THE "MIFID II PRODUCT GOVERNANCE REQUIREMENTS"), AND DISCLAIMING ALL AND ANY LIABILITY, WHETHER ARISING IN TORT, CONTRACT OR OTHERWISE, WHICH ANY "MANUFACTURER" (FOR THE PURPOSES OF THE MIFID II PRODUCT GOVERNANCE REQUIREMENTS) MAY OTHERWISE HAVE WITH RESPECT THERETO, THE NEW SHARES IN THE PLACING (THE "ISSUE SHARES") HAVE BEEN SUBJECT TO A PRODUCT APPROVAL PROCESS, WHICH HAS DETERMINED THAT THE ISSUE SHARES ARE: (I) COMPATIBLE WITH AN END TARGET MARKET OF RETAIL INVESTORS AND INVESTORS WHO MEET THE CRITERIA OF PROFESSIONAL CLIENTS AND ELIGIBLE COUNTERPARTIES, EACH AS DEFINED IN MIFID II; AND (II) ELIGIBLE FOR DISTRIBUTION THROUGH ALL DISTRIBUTION CHANNELS AS ARE PERMITTED BY MIFID II (THE "TARGET MARKET ASSESSMENT"). NOTWITHSTANDING THE TARGET MARKET ASSESSMENT, DISTRIBUTORS SHOULD NOTE THAT: THE PRICE OF THE ISSUE SHARES MAY DECLINE AND INVESTORS COULD LOSE ALL OR PART OF THEIR INVESTMENT; THE ISSUE SHARES OFFER NO GUARANTEED INCOME AND NO CAPITAL PROTECTION; AND AN INVESTMENT IN THE ISSUE SHARES IS COMPATIBLE ONLY WITH INVESTORS WHO DO NOT NEED A GUARANTEED INCOME OR CAPITAL PROTECTION, WHO (EITHER ALONE OR IN CONJUNCTION WITH AN APPROPRIATE FINANCIAL OR OTHER ADVISER) ARE CAPABLE OF EVALUATING THE MERITS AND RISKS OF SUCH AN INVESTMENT AND WHO HAVE SUFFICIENT RESOURCES TO BE ABLE TO BEAR ANY LOSSES THAT MAY RESULT THEREFROM. THE TARGET MARKET ASSESSMENT IS WITHOUT PREJUDICE TO THE REQUIREMENTS OF ANY CONTRACTUAL, LEGAL OR REGULATORY SELLING RESTRICTIONS IN RELATION TO THE PLACING. FURTHERMORE, IT IS NOTED THAT, NOTWITHSTANDING THE TARGET MARKET ASSESSMENT,
FOR THE AVOIDANCE OF DOUBT, THE TARGET MARKET ASSESSMENT DOES NOT CONSTITUTE: (A) AN ASSESSMENT OF SUITABILITY OR APPROPRIATENESS FOR THE PURPOSES OF MIFID II; OR (B) A RECOMMENDATION TO ANY INVESTOR OR GROUP OF INVESTORS TO INVEST IN, OR PURCHASE, OR TAKE ANY OTHER ACTION WHATSOEVER WITH RESPECT TO THE ISSUE SHARES.
EACH DISTRIBUTOR IS RESPONSIBLE FOR UNDERTAKING ITS OWN TARGET MARKET ASSESSMENT IN RESPECT OF THE ISSUE SHARES AND DETERMINING APPROPRIATE DISTRIBUTION CHANNELS.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY'S INTENTIONS, BELIEFS, OR CURRENT EXPECTATIONS ABOUT AND TARGETS FOR THE COMPANY'S FUTURE RESULTS OF OPERATIONS, FINANCIAL CONDITION, LIQUIDITY, PERFORMANCE, PROSPECTS, ANTICIPATED GROWTH, STRATEGIES AND OPPORTUNITIES AND THE MARKETS IN WHICH THE COMPANY OPERATES. FORWARD-LOOKING STATEMENTS ARE STATEMENTS THAT ARE NOT HISTORICAL FACTS AND MAY BE IDENTIFIED BY WORDS SUCH AS "BELIEVE", "EXPECT", "ANTICIPATE", "INTEND", "MAY", "PLAN", "ESTIMATE", "WILL", "SHOULD", "COULD", "AIM" OR "MIGHT", OR, IN EACH CASE, THEIR NEGATIVE, OR SIMILAR EXPRESSIONS. THE FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE ARE BASED UPON VARIOUS ASSUMPTIONS, MANY OF WHICH ARE BASED, IN TURN, UPON FURTHER ASSUMPTIONS. ALTHOUGH THE COMPANY BELIEVES THAT THE EXPECTATIONS REFLECTED IN THESE FORWARD-LOOKING STATEMENTS ARE REASONABLE, IT CAN GIVE NO ASSURANCES THAT THEY WILL MATERIALIZE OR PROVE TO BE CORRECT. BECAUSE THESE STATEMENTS ARE BASED ON ASSUMPTIONS OR ESTIMATES AND ARE SUBJECT TO RISKS AND UNCERTAINTIES, THE ACTUAL RESULTS OR OUTCOME COULD DIFFER MATERIALLY FROM THOSE SET OUT IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF MANY FACTORS. 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 COMPANY DOES NOT GUARANTEE THAT THE ASSUMPTIONS UNDERLYING THE FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE ARE FREE FROM ERRORS NOR DOES IT ACCEPT ANY RESPONSIBILITY FOR THE FUTURE ACCURACY OF THE OPINIONS EXPRESSED IN THIS PRESS RELEASE OR ANY OBLIGATION TO UPDATE OR REVISE THE STATEMENTS IN THIS PRESS RELEASE TO REFLECT SUBSEQUENT EVENTS. UNDUE RELIANCE SHOULD NOT BE PLACED ON THE FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE. THE INFORMATION, OPINIONS AND FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE SPEAK ONLY AS AT ITS DATE AND ARE SUBJECT TO CHANGE WITHOUT NOTICE. NEITHER THE COMPANY NOR ANYONE ELSE UNDERTAKE ANY OBLIGATION TO REVIEW, UPDATE, CONFIRM OR TO RELEASE PUBLICLY ANY REVISIONS TO ANY FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS THAT OCCUR OR CIRCUMSTANCES THAT ARISE IN RELATION TO THE CONTENT OF THIS PRESS RELEASE.
For further information, please contact:
Mobile: +46 (0) 709-298 269
E-mail: klaus.sindahl@hansabiopharma.com
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