Pharma Equity Group Unveils New Share Issuance Strategy
Pharma Equity Group A/S has made a significant announcement regarding the issuance of new shares through a directed issue. This strategic decision is aimed at enhancing the company’s capital structure and creating a more robust financial foundation. The expected gross proceeds from this issuance are estimated at approximately DKK 51,148,194, including the conversion of convertible debt amounting to around DKK 12,648,826.
Details of the Share Issuance
The company's board of directors has authorized the issuance of 204,592,776 new shares, which corresponds to a nominal value of DKK 20,459,277.6. The subscription price for these new shares has been set at DKK 0.25 each, which is approximately 20% above the market price based on the closing price on the day before the announcement.
Subscription and Distribution
This directed issue has been fully subscribed and involves a limited group of new investors along with existing shareholders. This move allows Pharma Equity Group to strengthen its financial reach without granting pre-emption rights to current shareholders, per its articles of association.
Projected Timeline for the New Shares
The registration of the new shares is anticipated to occur with the Danish Business Authority by the target date of 11 October. Following this registration, the new shares are expected to become tradable on the Nasdaq Copenhagen stock exchange starting from 16 October.
Impact on Share Capital
With this issuance, the company's share capital will increase significantly. The company will have a registered share capital reaching nominal DKK 122,755,665.9 after completing the capital increase. The new shares will enjoy the same rights and privileges as existing shares, including voting and dividend rights, effective from the date of registration with the Danish Business Authority.
The Strategic Vision of Pharma Equity Group
Pharma Equity Group, publicly traded on Nasdaq Copenhagen, remains committed to advancing its subsidiary, Reponex Pharmaceuticals A/S. This focus on healthcare indicates that the company’s objective is not only to strengthen its capital base but also to enhance the medical projects currently in development at Reponex Pharmaceuticals.
Long-Term Commitment to Healthcare Innovations
The umbrella goal behind this share issuance is to ensure substantial support, resources, and expertise aimed at achieving the success of innovative therapeutic developments. Pharma Equity Group prioritizes the advancement of medical solutions to improve global healthcare outcomes. With a long-term vision, the company also aims to explore future investment opportunities depending on the success of Reponex Pharmaceuticals.
Further Information
If you have any questions regarding this announcement or require additional details, please reach out to:
Thomas Kaas Selsø, CEO of Pharma Equity Group A/S, phone: +45 4022 2114
Christian Vinding Thomsen, Chairman of the Board, phone: +45 2622 7222
Frequently Asked Questions
What prompted Pharma Equity Group to issue new shares?
The decision was made to enhance the company's capital structure while supporting the ongoing medical projects at Reponex Pharmaceuticals.
How many new shares were issued?
A total of 204,592,776 new shares will be issued, contributing significantly to the company's capital.
What is the subscription price of the new shares?
The subscription price for the new shares is set at DKK 0.25 each.
When are the new shares expected to be traded?
The new shares are anticipated to be admitted to trading on Nasdaq Copenhagen starting on 16 October.
Who can I contact for further information?
Thomas Kaas Selsø, the CEO, and Christian Vinding Thomsen, the Chairman, are available for any inquiries.
