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6 March 2019

Vator Securities advises Ascelia Pharma on SEK 200 million IPO

The offering in Ascelia Pharma AB (“Ascelia Pharma” or the “Company”) in connection with the Initial Public Offering on Nasdaq Stockholm was significantly oversubscribed. The new share issue (the “Offering”) will provide Ascelia Pharma with approximately SEK 200 million before deductions for expenses related to the Offering. The Company’s Board of Directors now intends to apply for admission to trading of the Company’s shares on Nasdaq Stockholm after Nasdaq Stockholm AB’s announcement that the Company complies with Nasdaq Stockholm’s listing requirements, provided that certain conditions and customary requirements, including the dispersion requirement for the Company’s shares, are fulfilled. The first day of trading is expected to be 13
March 2019 under the ticker “ACE”. The Offering generated strong interest amongst notable Swedish and International institutions such as Alto Invest, Handelsbanken Fonder, The Fourth Swedish National Pension Fund, Sunstone Capital, and Øresund-Healthcare Capital.

The Offering in brief

• The subscription period of the Offering was closed on 5 March 2019. The Offering consisted of an offering to the general public in Sweden and Denmark as well as to institutional investors in Sweden and abroad.

• The price per share in the Offering was SEK 25, corresponding to a total value of outstanding shares in Ascelia Pharma upon completion of the Offering of SEK 565 million. Assuming that the Over-allotment Option is exercised in full, the value of the total number of shares in the Company will amount to SEK 595 million.

• The Offering comprised 8,000,000 new shares in Ascelia Pharma, corresponding to SEK 200 million before transaction costs.

• Furthermore, the Company has issued an over-allotment option to Erik Penser Bank AB comprising a maximum of 1,200,000 new shares in the Company, corresponding to 30 million SEK before transaction costs and 15 per cent of the total number of shares in the Offering (the “Over-allotment Option”). 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 of Nasdaq Stockholm.

• Assuming that the Over-allotment Option is fully exercised, the Offering will in total comprise a maximum of 9,200,000 new shares in the Company, corresponding to a total value of SEK 230 million, before transaction costs and 38.6 per cent of the total number of shares in the Company after completion of the Offering.

• After completion of the Offering, assuming that the Over-allotment Option is fully exercised, the total number of shares in the Company will amount to 23,806,891. If the Over-allotment Option is not exercised, the total number of shares in the Company will amount to 22,606,891.

• The Offering was significantly oversubscribed and more than 6,000 investors have subscribed for and have been allocated shares in Ascelia Pharma. Due to the oversubscription, all who have applied for subscription in the Offering have not been allocated shares. The Board of Directors has decided on the allocation of subscribed shares in accordance with the allocation principles stated in the prospectus. Notification of allotment and payment of shares is provided in accordance with the respective nominee’s procedures. Those who have not been allocated shares will not be notified. The settlement day is on March 11, 2019.

• Alto Invest, Handelsbanken Fonder and the Fourth Swedish National Pension Fund and a number of existing shareholders, including Sunstone Capital and Øresund-Healthcare Capital as well as board members and senior executives, and other external investors have in accordance with the provided subscription undertakings subscribed for shares in the Offering corresponding to a total of SEK 150 million.

• Immediately following the completion of the Offering, assuming that the Over-allotment Option is exercised in full, Ascelia Pharma’s largest shareholders will be Sunstone Capital (18.9 per cent of the outstanding shares in the Company), CMC-SPV (12.3 per cent), ØresundHealthcare Capital (9.1 per cent), Alto Invest (4.9 per cent), Handelsbanken Fonder (4.7 per cent) and the Fourth Swedish National Pension Fund (3.9 per cent).

• Trading in Ascelia Pharma shares on Nasdaq Stockholm is expected to commence on 13 March 2019 under the ticker ”ACE” and ISIN SE0010573113.

Magnus Corfitzen, CEO of Ascelia Pharma

“We are very pleased and proud of the interest that many qualitative investors have shown in our company. We will now continue our work by completing the clinical Phase III study and begin commercial preparations for our leading product candidate  angoral. We can now also commence the Phase II preparations for our second product candidate, Oncoral.”

Advisors

Vator Securities is the Sole Global Coordinator and Bookrunner in connection with the Offering and the Company’s financial advisor. Baker McKenzie is legal advisor to Vator Securities. Setterwalls Advokatbyrå is the Company’s legal advisor. The issuing agent of the Offering is Erik Penser Bank.