Oasmia evaluates the possibility to carry out a pr

Uppsala, Sweden, 2017-03-30 20:00 CEST (GLOBE NEWSWIRE) -- The terms and price of the new convertible instruments will be determined through an accelerated book building procedure and the closing price of the Company’s shares on Nasdaq Stockholm on 30 March 2017.

The Company intends to use the proceeds from the Private Placement to strengthen its working capital as well as finance its continuing operations. The Board of Directors has determined, given the phase the Company is currently in, that this financing will give it time to finalize certain ongoing activities which the Board of Directors anticipates will be the basis to fulfil the Company’s long term commercial strategy.

The completion of the Private Placement is subject to a resolution by the Board of Directors of Oasmia, by virtue of the authorisation granted by the Annual General Meeting held on 26 September 2017, to issue new convertible instruments following the completion of the accelerated book building procedure. The reason for deviating from the shareholders’ pre-emption rights by conducting a private placement is, in the opinion of the Board of Directors, that it is possible to issue the convertibles in more favourable conditions for the Company, in shorter time and to lower costs if these are directed to and placed with a limited group of investors rather than current shareholders.

About Oasmia Pharmaceutical AB

Oasmia Pharmaceutical AB develops, manufactures, markets and sells new generations of drugs in the field of human and veterinary oncology. The company’s product development aims to create and manufacture novel nanoparticle formulations and drug-delivery systems based on well-established cytostatics which, in comparison with current alternatives, show improved properties, reduced side-effects, and expanded applications. The company’s product development is based on its proprietary in-house research and company patents. Oasmia is listed on NASDAQ Capital Markets (OASM.US), Frankfurt Stock Exchange (OMAX.GR, ISIN SE0000722365) and NASDAQ Stockholm (OASM.ST).

Important Information

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         For more information, please contact:          Julian Aleksov, Acting Executive Chairman          Tel : +4618 - 50 54 40          E-mail: julian.aleksov@oasmia.com