Initiator Pharma A/S announced that it expects to receive SEK 19.999995 million in funding from Adrigo Asset Management AB, Linc AB

Initiator Pharma A/S announced a private placement of 2,666,666 common shares at a price of SEK 7.5 per share for gross proceeds of SEK 19,999,995 on April 13, 2022. The transaction will include participation from returning investors Adrigo Asset Management AB and Linc AB for 1,333,333 shares each. As a part of the transaction, investors will collectively acquire 5.7% stake in the company.

Post closing, the total number of shares issued by the company will increase from 43,772,462 shares to 46,439,128 shares. All shares to be issued in the transaction will be subject to a lock-up period of 90 days. The transaction has been approved by the board of directors of the company, and is subject to shareholders' approval.