Final result of the subsequent repair offering in Bionor
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES.
(Oslo, Norway, 3 March 2016) Reference is made to the stock exchange announcement dated 16 February 2016 and the prospectus dated 15 February 2016 (the "Prospectus") concerning the subsequent repair offering (the "Repair Offering") of up to 44,366,197 new shares (the "Offer Shares") and 44,366,197 warrants (the "Warrants") in Bionor Pharma ASA ("Bionor" or the "Company", ticker "BIONOR") at a subscription price of NOK 0.71.
The subscription period for the Repair Offering ended on 1 March 2016 at 16.30 CET.
At the expiry of the subscription period the Company had received subscriptions for a total of 22,978,865 Offer Shares and 22,978,865 Warrants. The Board of Directors of Bionor approved the final allocation of the shares offered in the Repair Offering based on the allocation criteria set out in the prospectus dated 15 February 2016. As a result, Bionor will issue 22,978,865 Offer Shares at NOK 0.71 per Offer Share raising gross proceeds of NOK 16,314,994.15. The Company will also issue 22,978,865 Warrants with an exercise price equal to the subscription price in the Repair Offering, i.e. NOK 0.71 per Warrant.
All subscribers being allocated Offer Shares will receive an allocation letter confirming the number of Offer Shares allocated to the subscriber and the corresponding amount to be paid. This allocation letter is expected to be distributed on or about 3 March 2016.
Payment of the Offer Shares will fall due on or about 7 March 2016 and delivery of the Offer Shares will take place on or about 11 March 2016.
The Offer Shares may not be transferred or traded before they are fully paid, the share capital increase and the Warrants pertaining to the Repair Offering have been registered with the Norwegian Register of Business Enterprises and the Offer Shares are registered in the Norwegian Central Securities Depository (VPS). It is expected that the share capital increase will be registered in the Norwegian Register of Business Enterprises on or about 10 March 2016 and that the Offer Shares will be admitted to trading on the Oslo Stock Exchange on or about 11 March 2016. Following registration of the Offer Shares the total number of issued shares in Bionor will increase by 22,978,865 from 312,690,232 to 335,669,097 shares.
David Horn Solomon, President and CEO, +45 22 20 63 00, firstname.lastname@example.org
Jens Krøis, CFO, +45 20 80 16 68, email@example.com
Jørgen Fischer Ravn, VP Investor Relations & Communications, +45 20 30 39 03, firstname.lastname@example.org
Bionor Pharma is a Norwegian biopharmaceutical company focused on advancing its proprietary therapeutic vaccine Vacc-4x in combination with other medicines toward a functional HIV cure. The Company believes it has first mover potential based on clinical results to date and early adoption of now recognized clinical strategy. In December 2015, Bionor announced that the HIV ’Shock & Kill’ trial REDUC with Vacc-4x and romidepsin successfully met its primary endpoint by significantly reducing latent HIV reservoir and further demonstrated control of viral load. Bionor is currently planning BIOSKILL, a proof-of-concept Phase II trial, which may lead to a major value inflection point and partnering opportunities. Bionor currently retains full ownership rights to Vacc-4x, i.e., the upside potential from partnering or licensing remains with the Company. Bionor is based in Oslo, Norway, and also has offices in Copenhagen, Denmark and New York, USA. Bionor is listed on Oslo Børs (OSE:BIONOR). More information about Bionor is available at www.bionorpharma.com.
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assumes any responsibility in the event there is a violation by any person of such restrictions.
The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Manager is acting for the Company and no one else in connection with the Repair Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Repair Offering and/or any other matter referred to in this release.