BIONOR PHARMA ASA - CONTEMPLATED PRIVATE PLACEMENT
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
Bionor Pharma ("Bionor" or the "Company") has engaged Arctic Securities AS and DNB Markets, as part of DNB Bank ASA (the "Managers") to assist the Company in a contemplated private placement (the "Private Placement") to through issuance of new shares corresponding to up to 10% of the existing share capital, equal to approximately 22,500,000 million new shares (the “New Shares”), directed towards existing shareholders, Norwegian investors and international institutional investors.
The proceeds from the Private Placement will be used for i) initiation of detailed planning and preparation of next steps in development strategy to uphold and advance the Company’s first mover position; ii) providing the shareholders with best possible options following data readout in 2015 as well as general corporate purposes.
The subscription price in the Private Placement will be set through an accelerated book-building process conducted by the Managers. The application period commences today on 4 September 2014 at 16:30 (CET) and will close on 5 September 2014 at 08:00 hours (CET). The Company, together with the Managers, reserves the right to close the application period at any time at their sole discretion, at short notice. The minimum order size and allocation in the Private Placement has been set to offer shares worth the NOK or share equivalent of EUR 100,000.
The allocation of shares will be determined at the end of the book-building process. The final allocation will be made at the Board's sole discretion. The New Shares will be issued based on an existing Board authorisation granted by the AGM on 14 May 2014.
To secure timely delivery of shares sold in the Private Placement, the Managers will settle the allocated New Shares with existing shares made available by Lars Høie, Chairman of the Board, under a share lending arrangement with the Managers. The Company will announce the number of shares allocated and the final subscription price in the Private Placement through a stock exchange notice expected to be published before opening of the trading on the Oslo Stock Exchange tomorrow, 5 September 2014.
For further information, please contact:
Anker Lundemose, CEO Bionor, +47 23 01 09 60
Synne H Røine, CFO Bionor, +47 99 22 98 92
Bionor Pharma is a leading biotechnology company, searching for breakthrough products for the treatment and prevention of life-threatening viral diseases. The Company is listed on the Oslo Stock Exchange, and is developing vaccines for viral infections. The vaccines are based on a proprietary technology platform developed following more than two decades of research into peptides, and they are designed to safely stimulate the immune system to combat viral diseases. More information about Bionor Pharma is available at www.bionorpharma.com
This publication is not for distribution, directly or indirectly, in or into the United States, nor is it an offer for sale of or the solicitation of an offer to purchase securities in the United States. Any securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Copies of this publication are not being, and may not be, distributed or sent into the United States.
This information is subject of the disclosure requirements acc. to §5-12 (Norwegian Securities Trading Act).